Rigetti Computing, Inc. (RGTI) ended the recent trading session at $46.38, demonstrating a -3.31% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.52%.
Prior to today's trading, shares of the company had gained 93.9% outpaced the Computer and Technology sector's gain of 2.01% and the S&P 500's gain of 0.71%.
The upcoming earnings release of Rigetti Computing, Inc. will be of great interest to investors. The company is predicted to post an EPS of -$0.05, indicating a 37.5% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.39 million, showing a 0.42% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $8.67 million, which would represent changes of +75% and -19.65%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Rigetti Computing, Inc. presently features a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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