The most recent trading session ended with Riot Platforms, Inc. (RIOT – Free Report) standing at $12.27, reflecting a +0.33% shift from the previouse trading day’s closing. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.41%.
The company’s shares have seen a decrease of 7.98% over the last month, not keeping up with the Business Services sector’s gain of 15.7% and the S&P 500’s gain of 4.88%.
Investors will be eagerly watching for the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. The company’s earnings report is set to be unveiled on February 24, 2025. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.27 per share. This would mark a year-over-year decline of 156.25%. At the same time, our most recent consensus estimate is projecting a revenue of $129.3 million, reflecting a 64.02% rise from the equivalent quarter last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 28.75% decrease. As of now, Riot Platforms, Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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