Riot Platforms, Inc. (RIOT) closed at $13.97 in the latest trading session, marking a +1.82% move from the prior day. This move outpaced the S&P 500's daily gain of 0.41%. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, added 1.11%.
Shares of the company witnessed a loss of 42.23% over the previous month, trailing the performance of the Finance sector with its loss of 1.68%, and the S&P 500's gain of 1.46%.
The investment community will be paying close attention to the earnings performance of Riot Platforms, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.33, indicating a 226.92% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $160.65 million, showing a 10.86% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$2.7 per share and a revenue of $670.18 million, demonstrating changes of -38.46% and +3.51%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 3.3% fall in the Zacks Consensus EPS estimate. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 161, positioning it in the bottom 35% of all 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.
To follow RIOT in the coming trading sessions, be sure to utilize Zacks.com.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Riot Platforms, Inc. (RIOT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).