Needham analyst John Todaro lowered the firm’s price target on Riot Platforms (RIOT) to $24 from $30 and keeps a Buy rating on the shares. The company posted a top & bottom line miss driven by weakness in mining, while expenses, including SG&A, grew faster than expectations, the analyst tells investors in a research note. Needham adds it is reducing 2026 mining estimates to reflect lower bitcoin prices for the year.
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