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Stock impact report

Riot Platforms (RIOT) Beyond Bitcoin: You Want to Watch This Space [Yahoo! Finance]

Piper Sandler Companies (PIPR) 
Last piper sandler companies earnings: 5/1 08:04 am Check Earnings Report
Company Research Source: Yahoo! Finance
On April 21, Piper Sandler lifted its price target on Riot Platforms, Inc. (NASDAQ:RIOT) to $23 from $21 and reiterated an Overweight rating on the stock. The firm based its price target hike on a revised sum-of-the-parts valuation. Riot Platforms Inc (RIOT) Beyond Bitcoin: You Want to Watch This Space Piper Sandler noted that the Bitcoin mining company is well-positioned in the data center market as it makes the conversion to support AI and high-performance computing needs. According to the firm, Riot's Corsicana and Rockdale sites in Texas are strong data center assets. Additionally, the firm noted that the roughly $180 million that Riot raised through Bitcoin sales exceeded the roughly $90 million needed to cover the cost of retrofitting the company's Rockdale data center facility for Advanced Micro Devices (AMD) use. In this light, the firm believes that a larger AI and high-performance computing capability buildout may be in the works. Riot has secured a deal to lease it Show less Read more
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