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Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
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Riot Platforms, Inc. (RIOT - Free Report) closed at $18.38 in the latest trading session, marking a -0.49% move from the prior day. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the company had gained 64.32% over the past month. This has outpaced the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.43% in that time.
Investors will be hoping for strength from Riot Platforms, Inc. as it approaches its next earnings release. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.24 per share. This would mark year-over-year growth of 52%. Our most recent consensus estimate is calling for quarterly revenue of $83.01 million, up 13.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.13 per share and revenue of $355.46 million. These totals would mark changes of -140.43% and +37.15%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.31% higher. Riot Platforms, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
Riot Platforms, Inc. (RIOT - Free Report) closed at $18.38 in the latest trading session, marking a -0.49% move from the prior day. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the company had gained 64.32% over the past month. This has outpaced the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.43% in that time.
Investors will be hoping for strength from Riot Platforms, Inc. as it approaches its next earnings release. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.24 per share. This would mark year-over-year growth of 52%. Our most recent consensus estimate is calling for quarterly revenue of $83.01 million, up 13.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.13 per share and revenue of $355.46 million. These totals would mark changes of -140.43% and +37.15%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.31% higher. Riot Platforms, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.