Riot Blockchain, Inc. closed the most recent trading day at $49.63, moving +0.16% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day.
Coming into today, shares of the company had lost 14.39% in the past month. In that same time, the Business Services sector gained 0.5%, while the S&P 500 gained 7.34%.
RIOT will be looking to display strength as it nears its next earnings release. On that day, RIOT is projected to report earnings of $0.20 per share, which would represent year-over-year growth of 266.67%. Meanwhile, our latest consensus estimate is calling for revenue of $24.3 million, up 916.74% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.95 per share and revenue of $205.3 million. These totals would mark changes of +622.22% and +1599.36%, respectively, from last year.
Any recent changes to analyst estimates for RIOT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 178.57% higher within the past month. RIOT is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, RIOT is currently trading at a Forward P/E ratio of 24.81. This valuation marks a discount compared to its industry's average Forward P/E of 29.71.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.