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Why the Market Dipped But Riot Platforms, Inc. (RIOT) Gained Today
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The latest trading session saw Riot Platforms, Inc. (RIOT - Free Report) ending at $8.87, denoting a +0.57% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.26%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq depreciated by 1.54%.
Shares of the company witnessed a loss of 7.93% over the previous month, trailing the performance of the Business Services sector with its loss of 4.74% and the S&P 500's loss of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $74.07 million, indicating a 60.01% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.07 per share and a revenue of $320.3 million, signifying shifts of -127.66% and +23.59%, respectively, from the last year.
Investors should also take note of any recent adjustments 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the past month, there's been a 0.24% fall in the Zacks Consensus EPS estimate. As of now, Riot Platforms, Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Riot Platforms, Inc. (RIOT) Gained Today
The latest trading session saw Riot Platforms, Inc. (RIOT - Free Report) ending at $8.87, denoting a +0.57% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.26%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq depreciated by 1.54%.
Shares of the company witnessed a loss of 7.93% over the previous month, trailing the performance of the Business Services sector with its loss of 4.74% and the S&P 500's loss of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $74.07 million, indicating a 60.01% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.07 per share and a revenue of $320.3 million, signifying shifts of -127.66% and +23.59%, respectively, from the last year.
Investors should also take note of any recent adjustments 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the past month, there's been a 0.24% fall in the Zacks Consensus EPS estimate. As of now, Riot Platforms, Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.