The latest trading session saw Rigetti Computing, Inc. (RGTI) ending at $9.42, denoting a +0.32% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 3.46%. Elsewhere, the Dow lost 2.5%, while the tech-heavy Nasdaq lost 4.31%.
The company's shares have seen an increase of 4.92% over the last month, surpassing the Computer and Technology sector's loss of 7.24% and the S&P 500's loss of 5.27%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. In that report, analysts expect Rigetti Computing, Inc. to post earnings of -$0.05 per share. This would mark year-over-year growth of 64.29%. Meanwhile, our latest consensus estimate is calling for revenue of $2.46 million, down 19.34% from the prior-year quarter.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $14.52 million. These results would represent year-over-year changes of +44.44% and +34.57%, respectively.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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, the Zacks Consensus EPS estimate has remained steady. Rigetti Computing, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 75, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Rigetti Computing, Inc. (RGTI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
