Wall Street analysts forecast that Riot Platforms, Inc. (RIOT) will report quarterly loss of -$0.39 per share in its upcoming release, pointing to a year-over-year decline of 168.4%. It is anticipated that revenues will amount to $148.71 million, exhibiting a decrease of 2.8% compared to the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 13.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

In light of this perspective, let's dive into the average estimates of certain Riot Platforms, Inc. metrics that are commonly tracked and forecasted by Wall Street analysts.

The combined assessment of analysts suggests that 'Revenue- Engineering' will likely reach $21.19 million. The estimate indicates a change of +100.3% from the prior-year quarter.

Analysts' assessment points toward 'Revenue- Bitcoin Mining' reaching $119.48 million. The estimate indicates a change of -15.2% from the prior-year quarter.

The consensus among analysts is that 'Quantity of Bitcoin mined' will reach 1,527 . Compared to the present estimate, the company reported 1,426 in the same quarter last year.

Based on the collective assessment of analysts, 'Gross Profit- Bitcoin Mining' should arrive at $37.49 million. The estimate is in contrast to the year-ago figure of $62.71 million.

View all Key Company Metrics for Riot Platforms, Inc. here>>>

Over the past month, shares of Riot Platforms, Inc. have returned +0.1% versus the Zacks S&P 500 composite's -0.5% change. Currently, RIOT carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

Free: See Our Top Stock And 4 Runners Up

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 Report

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

Zacks Investment Research