Rigetti Computing, Inc. (RGTI) closed at $23.67 in the latest trading session, marking a -5.28% move from the prior day. This change lagged the S&P 500's daily gain of 1.16%. Elsewhere, the Dow gained 1.21%, while the tech-heavy Nasdaq added 1.18%.
The company's stock has dropped by 0.48% in the past month, exceeding the Computer and Technology sector's loss of 1.07% and lagging the S&P 500's loss of 0.42%.
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 $2.67 million, reflecting a 17.67% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.68 per share and revenue of $7.89 million, indicating changes of -88.89% and 0%, respectively, compared to the previous year.
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. 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. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Rigetti Computing, Inc. is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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