Riot Platforms, Inc. (RIOT) closed the most recent trading day at $22.19, moving +2.26% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.76%.
The company's shares have seen an increase of 30.1% over the last month, surpassing the Finance sector's loss of 1.81% and the S&P 500's gain of 1.14%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.19, reflecting a 64.81% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $164.67 million, indicating a 94.21% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.67 per share and revenue of $662.78 million, which would represent changes of -297.06% and +75.96%, respectively, from the prior 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Riot Platforms, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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