Rigetti Computing, Inc. (RGTI) closed at $38.84 in the latest trading session, marking a -1.91% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, added 1.15%.
Shares of the company have appreciated by 23.35% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.2%, and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.05, marking a 37.5% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.39 million, reflecting a 0.42% rise from the equivalent quarter last year.
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.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain 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 66, positioning it in the top 27% 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.
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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