Yahoo Finance Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Riot Platforms, Inc. (RIOT) reached $11.93, with a -1.49% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 1.02%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.
Shares of the company witnessed a loss of 1.06% over the previous month, beating the performance of the Business Services sector with its loss of 5.04% and the S&P 500's loss of 3.15%.
Investors will be eagerly watching for the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 1, 2024. The company is expected to report EPS of -$0.21, down 625% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $92.15 million, indicating a 25.82% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and revenue of $467.75 million, which would represent changes of -28.57% and +66.64%, respectively, from the prior 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 company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 49.1% rise in the Zacks Consensus EPS estimate. Riot Platforms, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 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
