Riot Platforms, Inc. (RIOT) Laps the Stock Market: Here's Why

Riot Platforms, Inc. (RIOT) closed the most recent trading day at $27.38, moving +2.89% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.65% for the day. At the same time, the Dow added 0.92%, and the tech-heavy Nasdaq gained 3.07%. Coming into today, shares of the company had gained 13.28% in the past month. In that same time, the Finance sector gained 2.86%, while the S&P 500 gained 0.48%. The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.21, marking a 136.84% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $148.71 million, indicating a 2.8% decline compared to the corresponding quarter of the prior year. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.08 per share and a revenue of $647.34 million, signifying shifts of -6.67% and -0.02%, respectively, from the last year. Investors might also notice recent changes to analyst estimates for Riot Platforms, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 has a Zacks Industry Rank of 108, which puts it in the top 45% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.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