RIOT Should I Buy
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Riot Platforms Inc (RIOT) is not a strong buy at the moment for a beginner investor with a long-term focus and $50,000-$100,000 available for investment. While the stock has seen positive momentum and bullish moving averages, the lack of significant proprietary trading signals, cautious market sentiment, and upcoming negative earnings expectations suggest holding off for now.
The stock is showing bullish moving averages (SMA_5 > SMA_20 > SMA_200), but the MACD histogram is negative (-0.103) and contracting, indicating weakening momentum. RSI is neutral at 68.865, and the stock is trading close to its resistance level (R1: 28.21).
Recent price target increases by analysts, with Clear Street raising the target to $38 and Bernstein to $30, reflect optimism about Riot's AI/HPC pipeline and data center strategy. The stock has outperformed the S&P 500 and Finance sector over the past month.
The upcoming earnings report is expected to show a significant EPS decline (-136.84% YoY) and a slight revenue drop (-2.8%). Additionally, the MACD and cautious Zacks Rank (#3 Hold) indicate limited short-term upside.
No detailed financial data is available for the latest quarter. However, the company is expected to report negative EPS (-$0.21) and a slight revenue decline, which does not support a strong buy case.
Analysts are generally positive, with several Buy and Outperform ratings. Price targets range from $23 to $38, with recent upgrades reflecting optimism about Riot's AI infrastructure and data center strategy. However, there are concerns about the lack of a large deal and execution risks.
