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Riot Platforms, Inc. (RIOT) Rises But Trails Market: What Investors Should Know
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Riot Platforms, Inc. (RIOT - Free Report) closed at $9.60 in the latest trading session, marking a +0.63% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 1.58%, and the technology-centric Nasdaq increased by 1.16%.
Prior to today's trading, shares of the company had gained 2.25% over the past month. This has outpaced the Business Services sector's loss of 5.43% and the S&P 500's loss of 3.58% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $74.07 million, up 60.01% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.07 per share and a revenue of $320.3 million, indicating changes of -127.66% and +23.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Riot Platforms, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Riot Platforms, Inc. (RIOT) Rises But Trails Market: What Investors Should Know
Riot Platforms, Inc. (RIOT - Free Report) closed at $9.60 in the latest trading session, marking a +0.63% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 1.58%, and the technology-centric Nasdaq increased by 1.16%.
Prior to today's trading, shares of the company had gained 2.25% over the past month. This has outpaced the Business Services sector's loss of 5.43% and the S&P 500's loss of 3.58% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $74.07 million, up 60.01% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.07 per share and a revenue of $320.3 million, indicating changes of -127.66% and +23.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Riot Platforms, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.