Rigetti Computing, Inc. (RGTI) ended the recent trading session at $17.71, demonstrating a -2.53% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.54%. On the other hand, the Dow registered a gain of 1.05%, and the technology-centric Nasdaq increased by 0.56%.
Coming into today, shares of the company had lost 23.01% in the past month. In that same time, the Computer and Technology sector gained 0.44%, while the S&P 500 gained 0.74%.
The upcoming earnings release of Rigetti Computing, Inc. will be of great interest to investors. 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. Our most recent consensus estimate is calling for quarterly revenue of $2.67 million, up 17.67% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.68 per share and revenue of $7.89 million, which would represent 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. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rigetti Computing, Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 83, this industry ranks in the top 34% of all industries, numbering over 250.
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.
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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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