Riot Platforms, Inc. (RIOT) closed the most recent trading day at $17.43, moving -3.84% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.8% for the day. Elsewhere, the Dow saw a downswing of 0.15%, while the tech-heavy Nasdaq appreciated by 1.6%.
Coming into today, shares of the company had gained 23.43% in the past month. In that same time, the Finance sector gained 5.61%, while the S&P 500 gained 5.15%.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.33, showcasing a 63.33% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $134.91 million, indicating a 16.41% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.14 per share and a revenue of $623.23 million, indicating changes of +41.54% and -3.74%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 moved 8.29% lower. 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 97, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).