Riot Platforms, Inc. (RIOT) closed the most recent trading day at $21.17, moving -7.43% from the previous trading session. This change lagged the S&P 500's 0.45% loss on the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 1.16%.
Heading into today, shares of the company had lost 10.98% over the past month, lagging the Finance sector's gain of 5.72% and the S&P 500's gain of 2.14%.
The investment community will be paying close attention to the earnings performance of Riot Platforms, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.21, signifying a 136.84% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $148.71 million, showing a 2.8% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$2.08 per share and a revenue of $647.34 million, demonstrating changes of -6.67% and -0.02%, respectively, from the preceding 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 34% of over 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 Report
This article originally published on Zacks Investment Research (zacks.com).