Rigetti Computing, Inc. (RGTI) closed the most recent trading day at $32.10, moving +1.45% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.5%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.5%.
Prior to today's trading, shares of the company had gained 105.59% outpaced the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 2.74%.
The investment community will be paying close attention to the earnings performance of Rigetti Computing, Inc. in its upcoming release. In that report, analysts expect Rigetti Computing, Inc. to post earnings of -$0.05 per share. This would mark year-over-year growth of 37.5%. Our most recent consensus estimate is calling for quarterly revenue of $2.39 million, up 0.42% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.09 per share and a revenue of $8.67 million, indicating changes of +75% and -19.65%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rigetti Computing, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 9.8% rise in the Zacks Consensus EPS estimate. Rigetti Computing, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rigetti Computing, Inc. (RGTI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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