Riot Platforms, Inc. (RIOT) closed at $21.99 in the latest trading session, marking a +2.42% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.58%.
The company's stock has climbed by 41.16% in the past month, exceeding the Finance sector's gain of 1.07% and the S&P 500's gain of 3.68%.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.19 per share. This would mark year-over-year growth of 64.81%. At the same time, our most recent consensus estimate is projecting a revenue of $164.67 million, reflecting a 94.21% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.67 per share and a revenue of $662.78 million, representing changes of -297.06% and +75.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain 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. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want 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
