Rigetti Computing, Inc. (RGTI) closed at $55.95 in the latest trading session, marking a +1.9% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.76%.
The company's shares have seen an increase of 185.84% over the last month, surpassing the Computer and Technology sector's gain of 3.34% and the S&P 500's gain of 1.14%.
Analysts and investors alike will be keeping a close eye on the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.05, up 37.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.39 million, up 0.42% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.09 per share and revenue of $8.67 million, indicating changes of +75% and -19.65%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Rigetti Computing, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.8% higher. As of now, Rigetti Computing, Inc. holds a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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