Cantor Fitzgerald Downgrades Riot Platforms to $24, Maintains Overweight Rating.

Cantor Fitzgerald Downgrades Riot Platforms to $24, Maintains Overweight Rating.

Title: Cantor Fitzgerald Downgrades Riot Platforms to $24, Maintains Overweight Rating

Cantor Fitzgerald has recently adjusted its price target for Riot Platforms (RIOT), reducing it from $25.00 to $24.00 while maintaining an Overweight rating. The stock, currently trading at $10.80, has experienced significant volatility over the past week, with a return of -17.68%. This adjustment follows Riot’s July production report, which showed the company mined 484 Bitcoin during the month, averaging 15.6 Bitcoin per day [2].

The company reported a net income of $219.5 million for the second quarter of 2025, with total revenue reaching $153.0 million. This growth was primarily driven by an $85.1 million increase in Bitcoin mining revenue. Riot Platforms also reported an adjusted EBITDA of $495.3 million and earnings per share of $0.65, surpassing the forecast of -$0.2065 [2]. The company’s strong financial performance in the latest quarter highlights its robust operational efficiency and strategic initiatives.

Despite the recent downgrade, Cantor Fitzgerald’s Overweight rating indicates a positive outlook for the stock. The firm’s decision comes ahead of Riot’s planned expansion of its hash rate to 45.0 EH/s by the first quarter of 2026. This expansion is expected to come from outfitting Rhodium assets and deploying newly acquired MicroBT mining rigs at Riot’s Rockdale site, which will add 10 EH/s of capacity [2].

Riot Platforms’ strong financial performance, strategic shifts toward purpose-built data centers, and infrastructure expansion provide a solid foundation for future growth. The company’s market capitalization of $4.01 billion and P/E ratio of 23.3x indicate that it is trading at a discount compared to its peers, suggesting undervaluation [2]. Analysts remain bullish on the company, with a median price target of $17.50 and an overall rating of Strong Buy (9.0/10), indicating a 58.7% upside from the current price of $11.03 [1].

In summary, while Cantor Fitzgerald has adjusted its price target for Riot Platforms, the company’s strong financial performance, strategic initiatives, and undervalued valuation metrics suggest attractive investment opportunities. The recent production report and expansion plans indicate a positive outlook for the stock, despite the recent volatility.

References:
[1] https://www.ainvest.com/news/riot-platforms-riot-plummets-24-q2-revenue-analysts-upside-potential-2508/
[2] https://www.investing.com/news/analyst-ratings/cantor-fitzgerald-lowers-riot-platforms-stock-price-target-on-mining-data-93CH-4173614