Riot Platforms, the Financial sector company, was revisited by a Wall Street analyst today. Analyst John Todaro from Needham reiterated a Buy rating on the stock and has a $24.00 price target.
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John Todaro has given his Buy rating due to a combination of factors tied to Riot Platforms’ recent performance and growth trajectory. The company delivered quarterly results that were essentially in line with his expectations, and the expansion of its high‑performance computing partnership with AMD to 50MW meaningfully strengthens contracted revenue visibility and validates demand for its infrastructure.
He also highlights that, despite rental pricing below some peers, Riot’s economics are compelling thanks to a relatively low capital cost per megawatt and strong expected margins. Management’s indication of ongoing, constructive discussions with investment‑grade hyperscale customers further supports a favorable long‑term outlook, underpinning his unchanged $24 price target and reinforcing the Buy recommendation.
In another report released yesterday, ATB Cormark Capital Markets also maintained a Buy rating on the stock with a $29.00 price target.