The most recent trading session ended with Riot Platforms, Inc. (RIOT) standing at $7.77, reflecting a -1.65% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.33% for the day. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq depreciated by 0.53%.
The company's shares have seen a decrease of 11.63% over the last month, not keeping up with the Business Services sector's loss of 2.97% and the S&P 500's loss of 4.03%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.25 per share. This would mark a year-over-year decline of 130.86%. At the same time, our most recent consensus estimate is projecting a revenue of $157.57 million, reflecting a 98.7% rise from the equivalent quarter last year.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of -$0.84 per share and revenue of $686.76 million. These results would represent year-over-year changes of -347.06% and +82.33%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, there's been a 32.39% fall in the Zacks Consensus EPS estimate. Riot Platforms, Inc. presently features a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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