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Riot Platforms, Inc. (RIOT) Stock Slides as Market Rises: Facts to Know Before You Trade
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Riot Platforms, Inc. (RIOT - Free Report) closed at $11.43 in the latest trading session, marking a -1.47% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.63%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.82%.
The the stock of company has fallen by 29.48% in the past month, lagging the Business Services sector's gain of 0.67% and the S&P 500's gain of 1.76%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.18, signifying a 550% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $104.29 million, up 42.4% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.76 per share and a revenue of $446.96 million, representing changes of -171.43% and +59.23%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.04% upward. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Riot Platforms, Inc. (RIOT) Stock Slides as Market Rises: Facts to Know Before You Trade
Riot Platforms, Inc. (RIOT - Free Report) closed at $11.43 in the latest trading session, marking a -1.47% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.63%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.82%.
The the stock of company has fallen by 29.48% in the past month, lagging the Business Services sector's gain of 0.67% and the S&P 500's gain of 1.76%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.18, signifying a 550% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $104.29 million, up 42.4% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.76 per share and a revenue of $446.96 million, representing changes of -171.43% and +59.23%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.04% upward. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.