Cantor Fitzgerald analyst Josh Siegler reiterated a Buy rating on Riot Platforms (RIOT – Research Report) yesterday and set a price target of $20.00. The company’s shares closed yesterday at $16.80.
Siegler covers the Financial sector, focusing on stocks such as Cleanspark, Root, and Riot Platforms. According to TipRanks, Siegler has an average return of 44.4% and a 58.24% success rate on recommended stocks.
Riot Platforms has an analyst consensus of Strong Buy, with a price target consensus of $19.07, which is a 13.51% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.
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Based on Riot Platforms’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $78.81 million and a net profit of $79.23 million. In comparison, last year the company earned a revenue of $60.15 million and had a GAAP net loss of $160.14 million
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RIOT in relation to earlier this year.
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Riot Platforms (RIOT) Company Description:
Riot Blockchain Inc is focused on building, supporting and operating blockchain technologies. Distributed blockchain technology is a decentralized and encrypted ledger that is designed to offer a secure, efficient, verifiable and permanent way of storing records and other information without the need for intermediaries. It serves as a medium of exchange, store of value or unit of account. The company’s portfolio consists of Verady, Tesspay, Coinsquare, and others.
Read More on RIOT:
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- Riot Purchases 31,500 Miners From MicroBT to Enhance and Expand Self-Mining Operations at Its Rockdale Facility
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- 5 Best Blockchain Stocks to Buy Now, According to Analysts – February 2024
- DOE to suspend survey of energy use by crypto miners
