Rigetti Computing, Inc. RGTI shares ended the last trading session 30.2% higher at $16.56. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.8% gain over the past four weeks.
Rigetti Computing’s quantum computing advancements, demonstrated by achieving 99.5% two-qubit gate fidelity and scaling to more than 100 qubits, position the company for significant top-line growth and long-term market leadership.
This company is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $1.91 million, down 38.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Rigetti Computing, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Rigetti Computing belongs to the Zacks Internet - Software industry. Another stock from the same industry, BigCommerce BIGC, closed the last trading session 1.2% higher at $4.88. Over the past month, BIGC has returned -3.6%.
For BigCommerce, the consensus EPS estimate for the upcoming report has changed -10% over the past month to $0.03. This represents a change of -40% from what the company reported a year ago. BigCommerce currently has a Zacks Rank of #3 (Hold).
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Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report BigCommerce Holdings, Inc. (BIGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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