JPMorgan Trims Riot Platforms (RIOT) Target Citing Lower Bitcoin Prices and Share Dilution

Riot Platforms Inc. (NASDAQ:RIOT) is one of the best upside stocks to buy now. On November 24, JPMorgan lowered the firm’s price target on Riot Platforms to $17 from $19 and kept an Overweight rating on the shares. This price cut sentiment was posted as JPMorgan cited lower bitcoin prices and a higher share count.

Earlier in its Q3 2025 financial results, Riot Platforms reported a total revenue of $180.2 million, which was an 18% increase from the previous quarter. However, net income for Q3 decreased substantially to $104.5 million from $219.5 million in the prior quarter.

JPMorgan Trims Riot Platforms (RIOT) Target Citing Lower Bitcoin Prices and Share Dilution

Additionally, the company’s Bitcoin production slightly declined quarter-over-quarter. This was due to an 8% growth in the global hash rate, which outpaced Riot’s own 3% growth in hash rate deployment. The company faces a constrained power environment, which could potentially impact future expansion and development timelines.

Riot Platforms Inc. (NASDAQ:RIOT) operates as a Bitcoin mining company in the US. The company operates in two segments: Bitcoin Mining and Engineering.

While we acknowledge the potential of RIOT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIOT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.