BTIG Reiterates Buy Rating on Riot Platforms, Inc.
BTIG has maintained its buy rating on Riot Platforms, Inc. with a $40 price target, a 40.01% upside from the current price.
Key Points
- BTIG reiterated its buy rating on Riot Platforms, Inc. (RIOT) with a $40 price target on June 25, 2026.
- BTIG's $40 price target implies 40.01% upside from Riot Platforms, Inc.'s ($RIOT) current $28.57 share price.
- Riot Platforms' shares traded at $27.42 on Thursday, with a market cap of approximately $10.83 billion.
- Insiders, including CEO Jason Les, sold shares in planned transactions, while analysts maintain a strong buy consensus.
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BTIG has reiterated its buy rating on Riot Platforms, Inc. (NasdaqCM: RIOT), keeping a price target of $40. This action, taken by analyst Gregory Lewis on June 25, 2026, reflects continued confidence in the company's prospects.
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Other Institutional Activity in Riot Platforms, Inc.
Several major funds have shown interest in Riot Platforms. BlackRock, Inc. grew its holdings by 545,277 shares, resulting in a total of 29,652,705 shares valued at about $366.5 million, marking a 1.9% increase. Vanguard Portfolio Management LLC opened a new position with 21,685,659 shares worth approximately $268 million. Starboard Value LP increased its stake by 2,800,000 shares to a total of 15,544,576 shares, a 22% rise. FMR LLC also boosted its holdings by 2,218,288 shares, bringing its total to 15,014,625 shares, a 17.3% increase.
Riot Platforms, Inc. Stock Up 50.4%
On Thursday, shares of Riot Platforms, Inc. traded at $27.42. The company, with a market cap of about $10.83 billion, operates in the capital markets sector. Riot Platforms has a high beta of 3.822, indicating significant volatility. Over the past year, the stock has ranged from a low of $8.87 to a high of $30.32. Its 50-day moving average stands at $22.64, while the 200-day moving average is $17.81. The company has a current ratio of 1.078 and a quick ratio of 0.667, with a debt-to-equity ratio of 36.63.
$RIOT price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Riot Platforms reported revenue of $653.3 million, showing a modest growth rate of 3.6%. However, the company is not currently profitable, with a net margin of -132.76% and a return on equity of -32.49%. The next earnings report is expected on July 30, 2026.
Insider Buying and Selling at Riot Platforms, Inc.
Several insiders have sold shares in planned transactions. CEO Jason Les sold 62,703 shares on June 22, 2026, at an average price of $30.09. SVP and CAO Ryan Werner also sold 25,375 shares on the same day at $30.00. Earlier, on May 11, 2026, Jason Les sold 175,000 shares at $25.19.
Analysts Set New Price Targets
On June 25, 2026, BTIG maintained its buy rating on Riot Platforms with a $40 price target. Other firms have also shown optimism: Needham maintained a buy rating with a $28.5 target on May 22, 2026, and HC Wainwright & Co. upheld a buy with a $25 target on May 6, 2026. The consensus among 20 analysts is a strong buy, with a mean target price of $28.55.
About Riot Platforms, Inc.
Riot Platforms, Inc. operates as a Bitcoin mining company in the United States, focusing on Bitcoin mining and engineering. It provides critical infrastructure for mining and data centers, designs power distribution equipment, and offers services for large-scale industrial clients. Founded in 2000, the company is headquartered in Castle Rock, Colorado, and led by CEO Jason Les.
Bottom Line
BTIG's reiterated buy rating and $40 target for Riot Platforms suggest confidence in the company's future. Investors keep a close eye on such ratings to gauge market sentiment. Remember, these analyst ratings reflect past data and may not represent the current position.
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