Riot Platforms Stock Forecast 2023
Riot Platforms Stock Forecast 2023: Latest Price
Article Coverage: RIOT Stock Performance, Latest RIOT News, Aggregated Forecasts, RIOT Latest Production Update, Reasons to Buy or Sell RIOT Stock, RIOT Investor Day Analysis, FAQs and Other detailed analysis.
Riot Blockchain, Inc. (NASDAQ: RIOT) is a publicly traded Bitcoin mining company. It is one of the largest Bitcoin miners in the world, with a hash rate of over 10.7 exahashes per second (EH/s) as of October 12, 2023. The company operates two mining facilities in North America, with a total capacity of over 400 megawatts.
RIOT Platforms Price Price Performance, Last 12 Months
- Last 1 Month: -12.9%
- Last 6 Months: -32.0%
- Last 12 Months: +49.3%
RIOT Platforms Price Target: Analysts
|RIOT Target Price||$15.3|
|Northland Capital Markets||$15|
|B. Riley Securities||$18|
|HC Wainwright & Co.||$18|
Riot Platforms Stock Forecast 2023, 2024 and 2025, Aggregated
- Riot Platforms Stock Price Prediction 2023 is $16.0
- Riot Platforms Stock Price Prediction 2024 is $18.0
- Riot Platforms Stock Price Prediction 2025 is $20.6
Riot Platforms Stock Forecast Today, Tomorrow and Week
- Riot Platforms Stock Price Prediction in the next 24 hours is between $13.2 and $14.7
- Riot Platforms Stock Price Prediction this week is between $12.9 and $14.2
|1. Market's Wisdom||N/A|
|1a. Market Data||N/A|
|1b. Technical Recommendation||Neutral|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Steady|
|2b. Social Media Sentiment||Steady|
Riot Platforms Stock Forecast 2023: Will RIOT reach $25 in 2023?
It is possible that RIOT stock could reach $25 in 2023. The stock has been on a tear in recent months, and it is currently trading at around $23. However, there are a number of factors that could affect the stock’s performance in the coming months, including the overall performance of the stock market, the price of Bitcoin, and the competitive landscape.
On the one hand, RIOT is a well-positioned company with a strong balance sheet and a healthy cash flow position. The company is also benefiting from the rising price of Bitcoin. In addition, RIOT is expanding its operations and investing in new technologies.
On the other hand, the stock market is currently volatile, and there is always the risk of a market downturn. RIOT stock is also exposed to the price of Bitcoin, which can be volatile. Finally, RIOT is facing increasing competition from other Bitcoin mining companies.
Overall, it is possible that RIOT stock could reach $25 in 2023. However, investors should carefully consider the risks and rewards before making any investment decisions.
RIOT Platform Stock Forecast 2023: Quarterly Financial Results
Second Quarter, 2023
Riot Blockchain reported the following financial results for the second quarter of 2023:
- Revenue: $76.7 million
- Bitcoin mining revenue: $49.7 million
- Data center hosting revenue: $7.7 million
- Engineering revenue: $19.3 million
- Net loss: $3.9 million
- Diluted earnings per share: -$0.17
The company’s revenue for the quarter was down slightly from the first quarter of 2023, but its Bitcoin mining revenue was up 27% year-over-year. This was due to an increase in Bitcoin production and a higher average Bitcoin price during the quarter.
Riot Blockchain’s net loss for the quarter was largely due to a decline in the price of Bitcoin. However, the company’s adjusted earnings per share of $0.17 beat analyst expectations.
Overall, Riot Blockchain’s second-quarter 2023 results were mixed. The company’s revenue and Bitcoin mining revenue were up year-over-year, but its net loss was due to a decline in the price of Bitcoin.
RIOT Stock Forecast 2023: How High Will RIOT Go in 2023?
It is difficult to say how high RIOT stock will go in 2023, as the stock market is volatile and the price of Bitcoin is also unpredictable. However, based on the company’s current growth trajectory and the potential growth of the Bitcoin mining industry, it is possible that RIOT stock could reach $30 or more in 2023.
According to Market Research Future, the global Bitcoin mining market is expected to grow from $3.4 billion in 2022 to $11.6 billion by 2028. This represents a compound annual growth rate (CAGR) of 25.4%. RIOT is well-positioned to capitalize on this growth, as it is one of the largest Bitcoin mining companies in the world.
In addition, RIOT is expanding its operations and investing in new technologies. The company is currently building a new mining facility in Texas, which is expected to be operational in 2023. RIOT is also investing in new mining rigs that are more efficient and profitable.
As a result of these factors, it is possible that RIOT stock could reach $30 or more in 2023. However, it is important to note that this is just a prediction, and the actual stock price could vary significantly.
Riot Platforms Stock Forecast 2023: Is RIOT a good stock to buy?
- Exposure to Bitcoin: RIOT is a Bitcoin mining company, which means that it earns revenue by mining Bitcoin. Bitcoin is a digital currency that is becoming increasingly popular, and its price has been rising steadily in recent years. By investing in RIOT stock, investors can gain exposure to Bitcoin without having to buy Bitcoin directly.
- Strong balance sheet: RIOT has a strong balance sheet with a lot of cash on hand. This gives the company the financial flexibility to expand its operations and invest in new technologies.
- Expanding operations: RIOT is expanding its operations by building new mining facilities and investing in new mining rigs. This will allow the company to mine more Bitcoin and generate more revenue.
- Potential for growth: The Bitcoin mining industry is expected to grow rapidly in the coming years. RIOT is well-positioned to capitalize on this growth, as it is one of the largest Bitcoin mining companies in the world.
RIOT Stock Forecast 2023: Reasons Not to Buy RIOT Stock
Here are some reasons not to buy RIOT stock:
- Volatility: RIOT stock is very volatile, meaning that its price can fluctuate wildly. This is because RIOT stock is exposed to the price of Bitcoin, which is also very volatile.
- Competition: RIOT faces increasing competition from other Bitcoin mining companies. This competition could put downward pressure on RIOT’s stock price.
- Regulatory risk: RIOT is subject to government regulation. If the government were to implement regulations that are unfavorable to the Bitcoin mining industry, it could have a negative impact on RIOT’s stock price.
- Environmental impact: Bitcoin mining consumes a lot of energy. This has raised concerns about the environmental impact of Bitcoin mining. If there is a public backlash against Bitcoin mining, it could have a negative impact on RIOT’s stock price.
RIOT Platforms Stock Forecast 2023: Frequently Asked Questions (FAQ)
Should I buy RIOT stock now?
Whether or not you should buy RIOT stock now depends on your individual investment goals and risk tolerance. RIOT is a risky investment, but it also has the potential to be very rewarding.
Will RIOT stock go up?
Whether or not RIOT stock will go up in the future is difficult to say. The stock has been on a tear in recent months, but it is important to remember that past performance is not indicative of future results. There are a number of factors that could affect RIOT’s stock price in the coming months, including the overall performance of the stock market, the price of Bitcoin, and the competitive landscape.
How much will RIOT stock be worth in 10 years?
It is impossible to say with certainty how much RIOT stock will be worth in 10 years. However, based on the company’s current growth trajectory and the potential growth of the Bitcoin mining industry, it is possible that RIOT stock could be worth significantly more than it is today in 10 years. As a result of these factors, it is possible that RIOT stock could be worth $50 or more in 10 years.
What is the best time to invest in RIOT stock?
The best time to invest in RIOT stock is when the stock is undervalued and has the potential to grow in value over time. However, it is difficult to predict when a stock is truly undervalued, and there is always the risk of loss when investing in any stock.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.