Is Riot Blockchain (RIOT) Outperforming Other Business Services Stocks This Year?

Zacks Equity Research
·2 min read

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Riot Blockchain (RIOT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Riot Blockchain is a member of the Business Services sector. This group includes 223 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. RIOT is currently sporting a Zacks Rank of #3 (Hold).

Over the past 90 days, the Zacks Consensus Estimate for RIOT's full-year earnings has moved 9,650% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, RIOT has returned 96.53% so far this year. Meanwhile, stocks in the Business Services group have gained about 1.92% on average. As we can see, Riot Blockchain is performing better than its sector in the calendar year.

Looking more specifically, RIOT belongs to the Technology Services industry, a group that includes 90 individual stocks and currently sits at #173 in the Zacks Industry Rank. On average, stocks in this group have lost 0.76% this year, meaning that RIOT is performing better in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track RIOT. The stock will be looking to continue its solid performance.


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