Market News

Street Sees 55% Upside in Crypto Miner RIOT

Investors in crypto miner Riot Platforms (NASDAQ:RIOT) have seen their capital plummet by nearly 64% over the past year.

While the company’s top line has ticked up from $12 million in 2020 to $213 million in 2021, its bottom line is yet to turn positive. The challenges for players in the crypto space continue as major cryptocurrencies such as Bitcoin (BTC-USD) and Ethereum (ETH-USD) have seen a price decline of 45.7% and 44% respectively over the past year.

Nonetheless, even as crypto enthusiasts remain optimistic, RIOT is anticipated to post a revenue of $355 million for 2023.

Analysts too, remain upbeat about the stock with a Strong Buy consensus rating. Recently, Needham’s John Todaro noted that RIOT remains one of the biggest vertically integrated miners with a breakeven cost that is at the, “lower end of the spectrum.”

Overall, Wall Street has a consensus price target of $9.60 on RIOT, implying a massive 55.3% potential upside in the stock.

Read full Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More