Riot Platforms, Inc. (RIOT) closed the most recent trading day at $14.14, moving -7.82% from the previous trading session. This change lagged the S&P 500's daily loss of 0.51%. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq lost 1.51%.
Shares of the company witnessed a gain of 2.4% over the previous month, beating the performance of the Finance sector with its gain of 0.86%, and the S&P 500's gain of 0.93%.
Investors will be eagerly watching for the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.22, down 150% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $158.39 million, indicating a 11.1% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.2 per share and revenue of $654.04 million, indicating changes of -158.82% and 0%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.68% upward. Riot Platforms, Inc. presently features a Zacks Rank of #1 (Strong Buy).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 36% 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.
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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