Rigetti Computing, Inc. (RGTI) ended the recent trading session at $24.72, demonstrating a -2.1% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.65%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.82%.
Coming into today, shares of the company had lost 6.06% in the past month. In that same time, the Computer and Technology sector lost 1.6%, while the S&P 500 gained 1.15%.
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 37.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 million, up 17.67% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.68 per share and a revenue of $7.89 million, representing changes of -88.89% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Rigetti Computing, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.14% lower. Rigetti Computing, Inc. is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% 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.
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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