Rigetti Computing, Inc. (RGTI) shares ended the last trading session 9.8% higher at $39.6. 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 14% gain over the past four weeks.
The sharp rise in RGTI shares can be attributed to the renewed investor optimism surrounding quantum computing after reports surfaced that the U.S. government may consider taking equity stakes in leading quantum firms to strengthen national competitiveness. This potential policy move signals growing institutional support for the sector and reinforces Rigetti’s positioning as one of the few publicly traded pure-play quantum computing companies. Investors appear to be betting that such government involvement could translate into deeper partnerships, stronger funding visibility, and an accelerated path toward commercial adoption of Rigetti’s hardware and software solutions.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +37.5%. Revenues are expected to be $2.39 million, up 0.4% 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, Phunware (PHUN), closed the last trading session 3.8% higher at $2.72. Over the past month, PHUN has returned -7.4%.
For Phunware, the consensus EPS estimate for the upcoming report has changed +2.1% over the past month to -$0.14. This represents a change of +44% from what the company reported a year ago. Phunware currently has a Zacks Rank of #3 (Hold).
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Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report Phunware (PHUN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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