Riot Platforms, Inc. (RIOT) Surpasses Market Returns: Some Facts Worth Knowing

Riot Platforms, Inc. (RIOT) closed the most recent trading day at $12.55, moving +1.54% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.72%. At the same time, the Dow added 0.48%, and the tech-heavy Nasdaq gained 1.16%.

Shares of the company have depreciated by 19.16% over the course of the past month, underperforming the Finance sector's loss of 5.41%, and the S&P 500's loss of 4.99%.

The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.33 per share. This would mark year-over-year growth of 63.33%. Alongside, our most recent consensus estimate is anticipating revenue of $128.79 million, indicating a 20.2% downward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.14 per share and revenue of $619.21 million, which would represent changes of +41.54% and -4.36%, respectively, from the prior year.

Investors should also pay attention to any latest changes in 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 shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 55.97% lower within the past month. Currently, Riot Platforms, Inc. is carrying a Zacks Rank of #3 (Hold).

The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 39% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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