Needham analyst John Todaro has reiterated their bullish stance on RIOT stock, giving a Buy rating yesterday.
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John Todaro has given his Buy rating due to a combination of factors including Riot Platforms’ strong financial performance and strategic developments. The company reported an adjusted EBITDA of $64 million for Q3’25, surpassing the expected $57 million, and revenues slightly exceeded estimates, reaching $180 million.
Additionally, Riot Platforms has initiated the development of its first two buildings at the Corsicana site, which is expected to provide significant capacity for high-performance computing and AI workloads. The strategic location and potential for attracting hyperscale tenants make Corsicana an attractive opportunity. Furthermore, the company’s Rockdale site presents additional potential for expansion, contributing to the positive outlook and increased price target of $28 per share.
In another report released yesterday, Clear Street also maintained a Buy rating on the stock with a $29.00 price target.