Riot Platforms, Inc. (RIOT) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Riot Platforms, Inc. (RIOT) closed the most recent trading day at $13.29, moving -1.26% from the previous trading session. This move lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.89%.Prior to today's trading, shares of the company had gained 12.64% over the past month. This has outpaced the Business Services sector's loss of 2.5% and the S&P 500's loss of 1.56% in that time.The investment community will be paying close attention to the earnings performance of Riot Platforms, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.27, signifying a 156.25% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $130.25 million, indicating a 65.23% increase compared to the same quarter of the previous year.Investors might also notice recent changes to analyst estimates for Riot Platforms, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.98% upward. Right now, Riot Platforms, Inc. possesses a Zacks Rank of #2 (Buy).The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 34% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks