RIOT Stock Prediction as Needham, Piper Sandler Slash Target After Earnings

RIOT stock price retreated by over 2% on Tuesday as traders reacted to its earnings report and the broader stock market retreat amid the ongoing stock market retreat. It also dropped as top Wall Street analysts slashed their target.

RIOT Stock Price Dropped as Top Wall Street Analysts Slashed Their Targets

Riot Platforms stock dropped after the company published its financial results on Monday. The report showed that the revenue rose by 72% in 2025 to $647 million. This revenue growth happened as its mined Bitcoin rose to 5,686 despite the rising mining difficulty.

However, the company also recorded a big loss of over $663 million as the value of its Bitcoin holdings dropped during the year.

The most important part of Riot Platforms is that it is pivoting to the artificial intelligence industry, where it will provide computing power to hyperscalers. It has already reached a multi-billion-dollar deal with AMD, one of the top players in the semiconductor industry. It has already finished the first phase of the contract by delivering 5 MW of computing power. Also, it is in talks with more investment-grade tenants for its Corsicana and Rockdale facilities.

Riot Platforms is copying the model that other Bitcoin mining companies like Hut 8, IREN, and Mara Holdings have embraced. Its goal is to make billions of dollars in the coming years by providing computing power to companies in the AI industry.

A good example of this is CoreWeave, a former Bitcoin mining company that has accumulated a backlog worth over $50 billion. Its top clients are companies like OpenAI and Microsoft. 

Analysts have maintained a bullish outlook on the RIOT stock as they expect that its new approach will work out well. Also, Starboard Value, a top hedge fund manager, has also taken a big market stake in the company and is pushing it to accelerate its transition.

In a note after earnings, HC Wainwright maintained its buy rating for the company. However, the analyst reduced the price target from $26 to $23. Also, Needham’s John Todaro cut his target from $30 to $24, while Piper Sandler’s Patric Moley reduced the target to $21 from $26.

Riot Platforms Stock Price Prediction: Technical Analysis 

Technical analysis suggests that the Riot Platforms stock price may drop sharply in the coming days or weeks. It is attempting to move below the 50% Fibonacci Retracement level at $15.15. 

Most notably, the stock has formed a head-and-shoulders pattern, which is a common bearish reversal sign in technical analysis.

Top oscillators like the Stochastic and the Relative Strength Index have all pointed downwards, a sign that momentum has faded.

Therefore, the stock will likely continue falling, potentially to the key support level at $11.65, its lowest level in February this year. Such a drop implies a 25% drop from the current level.

However, the risk of taking a bearish view is that any deal announcement would push the stock much higher immediately.