Riot Platforms, Inc. (RIOT) ended the recent trading session at $12.10, demonstrating a -3.28% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.4%. Elsewhere, the Dow saw a downswing of 0.98%, while the tech-heavy Nasdaq appreciated by 0.18%.
Shares of the company have appreciated by 23.01% over the course of the past month, outperforming the Finance sector's gain of 4.41%, and the S&P 500's gain of 4.97%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.19, reflecting a 40.63% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $149.8 million, reflecting a 113.94% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.44 per share and revenue of $643.37 million, indicating changes of -523.53% and +70.81%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Riot Platforms, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.37% higher within the past month. Riot Platforms, Inc. presently features a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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