Wall Street Analysts See Riot Platforms, Inc. (RIOT) as a Buy: Should You Invest?

Group 1 - Riot Platforms, Inc. has an average brokerage recommendation (ABR) of 1.47, indicating a consensus between Strong Buy and Buy based on 17 brokerage firms' recommendations [2] - Of the 17 recommendations, 12 are Strong Buy and 2 are Buy, accounting for 70.6% and 11.8% of all recommendations respectively [2] - Despite the positive ABR, caution is advised as studies show limited success of brokerage recommendations in predicting stock price increases [5][10] Group 2 - The Zacks Consensus Estimate for Riot Platforms, Inc. remains unchanged at -$0.67, suggesting steady analyst views on the company's earnings prospects [13] - The unchanged consensus estimate has led to a Zacks Rank of 3 (Hold) for Riot Platforms, Inc., indicating a cautious outlook despite the Buy-equivalent ABR [14] - The Zacks Rank is driven by earnings estimate revisions, which are more timely and may provide better insights into future stock price movements compared to the ABR [11][12]