Riot Platforms stock rating reiterated at Market Outperform by Citizens

Investing.com - Citizens has reiterated its Market Outperform rating and $25.00 price target on Riot Platforms (NASDAQ:RIOT), maintaining its positive outlook despite recent sector volatility. Currently trading at $15.22 with a market cap of $5.66 billion, Riot has significant upside potential, with the most bullish analysts setting targets as high as $42.

The research firm noted that its coverage universe has experienced an average decline of approximately 14.4% since November 3, 2025, suggesting a potential market correction in the coming months. Riot’s stock has been particularly volatile with a beta of 3.83, though it has posted a 68.55% gain over the past six months.

Citizens identified several potential catalysts that could drive a sector recovery, including upcoming hyperscale company reports in February and anticipated revelations from OpenAI regarding its operating model and financing structure. InvestingPro analysis suggests Riot is currently undervalued, with additional ProTips available to subscribers looking for deeper insights into this high-volatility stock.

The firm also highlighted the importance of continued government support, including potential incentives from the current administration aimed at maintaining U.S. leadership in AI technologies through zoning adjustments, power allocation, and possible financing options.

Citizens expressed confidence in companies with significant ready-powered capacity for 2026 and 2027, specifically mentioning Riot Platforms alongside other firms in its coverage universe that are expected to benefit from incremental customer contract signings. Analysts forecast Riot’s revenue to grow by 77% in the current fiscal year, supporting the bullish outlook despite the company trading at a P/E ratio of 38.96.

In other recent news, Riot Platforms reported third-quarter 2025 earnings that exceeded expectations, with revenues reaching $180.2 million compared to the forecasted $169.24 million. The company also delivered an earnings per share of $0.26, significantly outperforming the anticipated -$0.16. Additionally, Needham raised its price target for Riot Platforms to $28.00 from $19.00, maintaining a Buy rating due to the strong quarterly performance. Riot Platforms produced 437 bitcoin in October, marking a 14% decline year-over-year. The company sold 400 bitcoin during the month, generating $46.0 million in net proceeds.

Citizens initiated coverage on Riot Platforms with a Market Outperform rating and a $25.00 price target, noting the company’s shift from bitcoin mining to data center services. Despite these positive developments, Riot Platforms was among several cryptocurrency-related stocks that fell as Bitcoin’s value dropped below $100,000. The company’s third-quarter adjusted EBITDA came in at $64 million, surpassing Needham’s estimate of $57 million. These developments highlight Riot Platforms’ ongoing strategic shifts and financial performance in the cryptocurrency sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.