Riot Platforms, Inc. (RIOT) Gains As Market Dips: What You Should Know

Riot Platforms, Inc. (RIOT) closed the most recent trading day at $28.63, moving +1.89% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.37%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq lost 1.33%. Prior to today's trading, shares of the company had gained 14.74% outpaced the Finance sector's gain of 4.79% and the S&P 500's gain of 2.02%.The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.21, indicating a 136.84% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $148.71 million, down 2.8% from the prior-year quarter. For the full year, the Zacks Consensus Estimates project earnings of -$2.08 per share and a revenue of $647.34 million, demonstrating changes of -6.67% and -0.02%, respectively, from the preceding year. Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Riot Platforms, Inc. presently features a Zacks Rank of #3 (Hold). The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 103, finds itself in the top 43% echelons 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. Be sure to follow all of these stock-moving metrics, and many more, on 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 UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks