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Why the Market Dipped But Riot Platforms, Inc. (RIOT) Gained Today
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In the latest close session, Riot Platforms, Inc. (RIOT - Free Report) was up +1.63% at $22.16. The stock's performance was ahead of the S&P 500's daily loss of 0.58%. Meanwhile, the Dow experienced a drop of 1.18%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
Shares of the company have appreciated by 12.37% over the course of the past month, outperforming the Finance sector's gain of 0.23%, and the S&P 500's loss of 0.36%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.33, down 226.92% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $162.75 million, indicating a 9.7% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.71 per share and revenue of $670.27 million, which would represent changes of -38.97% and +3.53%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 16.54% lower within the past month. Riot Platforms, Inc. is currently a Zacks Rank #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 37% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Why the Market Dipped But Riot Platforms, Inc. (RIOT) Gained Today
In the latest close session, Riot Platforms, Inc. (RIOT - Free Report) was up +1.63% at $22.16. The stock's performance was ahead of the S&P 500's daily loss of 0.58%. Meanwhile, the Dow experienced a drop of 1.18%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
Shares of the company have appreciated by 12.37% over the course of the past month, outperforming the Finance sector's gain of 0.23%, and the S&P 500's loss of 0.36%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.33, down 226.92% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $162.75 million, indicating a 9.7% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.71 per share and revenue of $670.27 million, which would represent changes of -38.97% and +3.53%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 16.54% lower within the past month. Riot Platforms, Inc. is currently a Zacks Rank #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 37% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.