In the latest quarter, 10 analysts provided ratings for Riot Platforms (NASDAQ:RIOT), showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 3 | 0 | 0 | 0 |
| Last 30D | 2 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 0 | 0 | 0 |
| 2M Ago | 2 | 2 | 0 | 0 | 0 |
| 3M Ago | 3 | 0 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $16.5, with a high estimate of $23.00 and a low estimate of $12.00. This current average represents a 5.98% decrease from the previous average price target of $17.55.
Understanding Analyst Ratings: A Comprehensive Breakdown
A comprehensive examination of how financial experts perceive Riot Platforms is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| John Todaro | Needham | Lowers | Buy | $13.00 | $15.00 |
| Mike Colonnese | HC Wainwright & Co. | Maintains | Buy | $17.00 | $17.00 |
| Brett Knoblauch | Cantor Fitzgerald | Maintains | Overweight | $23.00 | $23.00 |
| Brett Knoblauch | Cantor Fitzgerald | Raises | Overweight | $23.00 | $20.00 |
| Reginald Smith | JP Morgan | Lowers | Overweight | $12.00 | $15.50 |
| Lucas Pipes | B. Riley Securities | Lowers | Buy | $13.00 | $15.00 |
| Mike Colonnese | HC Wainwright & Co. | Maintains | Buy | $17.00 | $17.00 |
| Lucas Pipes | B. Riley Securities | Lowers | Buy | $15.00 | $16.00 |
| John Todaro | Needham | Lowers | Buy | $15.00 | $17.00 |
| Mike Colonnese | HC Wainwright & Co. | Lowers | Buy | $17.00 | $20.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Riot Platforms. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Riot Platforms compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Riot Platforms's stock. This examination reveals shifts in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Riot Platforms's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Riot Platforms analyst ratings.
Discovering Riot Platforms: A Closer Look
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
Breaking Down Riot Platforms's Financial Performance
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Riot Platforms's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 8.27%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Riot Platforms's net margin excels beyond industry benchmarks, reaching 267.07%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Riot Platforms's ROE stands out, surpassing industry averages. With an impressive ROE of 9.71%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Riot Platforms's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 9.08%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.01.
The Significance of Analyst Ratings Explained
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.