The latest trading session saw Riot Platforms, Inc. (RIOT) ending at $6.46, denoting a +1.57% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 0.13%. At the same time, the Dow lost 1.33%, and the tech-heavy Nasdaq lost 0.13%.
The the stock of company has fallen by 18.25% in the past month, lagging the Business Services sector's loss of 0.93% and the S&P 500's loss of 6.3%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.25, marking a 130.86% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $159.79 million, indicating a 101.5% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.87 per share and a revenue of $671.17 million, representing changes of -355.88% and +78.19%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Riot Platforms, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 moved 2.85% lower. At present, Riot Platforms, Inc. boasts a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 63, placing it within the top 26% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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