Riot Platforms, Inc. (RIOT – Free Report) closed at $11.64 in the latest trading session, marking a +0.26% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.95%. Meanwhile, the Dow experienced a drop of 0.99%, and the technology-dominated Nasdaq saw a decrease of 1.36%.
The the stock of company has fallen by 3.41% in the past month, lagging the Business Services sector’s gain of 8.87% and the S&P 500’s gain of 1.86%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.27 per share, which would represent a year-over-year decline of 156.25%. Alongside, our most recent consensus estimate is anticipating revenue of $129.25 million, indicating a 63.96% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Riot Platforms, Inc. possesses a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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