Rigetti Computing, Inc. (RGTI) closed at $8.32 in the latest trading session, marking a +0.85% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.13%. Elsewhere, the Dow lost 1.33%, while the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the company had lost 16.71% over the past month, lagging the Computer and Technology sector's loss of 9.27% and the S&P 500's loss of 6.3% in that time.
The upcoming earnings release of Rigetti Computing, Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.05, showcasing a 64.29% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.46 million, indicating a 19.34% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.20 per share and a revenue of $14.52 million, representing changes of +44.44% and +34.57%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rigetti Computing, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Rigetti Computing, Inc. possesses a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 30% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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