What Does Wall Street Think About Riot Platforms (RIOT)?

Riot Platforms, Inc. (NASDAQ:RIOT) is one of the best stocks under $20 to buy for the long term. On August 7, Riot Platforms, Inc. (NASDAQ:RIOT) was upgraded by JonesResearch to Buy from Hold with an $18 price target.

Riot Platforms (RIOT) Jumps 5.8% as Bitcoin Hits New All-Time High

A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency.

Similarly, Brett Knoblauch from Cantor Fitzgerald maintained a Buy rating on Riot Platforms, Inc. (NASDAQ:RIOT) in a report released on August 6, setting a price target of $24.00.

Analysts are thus bullish on the stock, and its median price target of $12.27 implies an upside of 44.66% from current levels.

Riot Platforms, Inc. (NASDAQ:RIOT) is a digital infrastructure and Bitcoin mining company operating in Central Texas, Kentucky, and Colorado.

The company’s primary strategic focus is on building itself as a leading vertically integrated Bitcoin mining company, standing on three pillars of strength: being a low-cost Bitcoin producer, developing and owning operations of significant scale, and building a strong balance sheet.

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.