In the latest close session, Rigetti Computing, Inc. (RGTI) was down 3.48% at $16.98. This change lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Coming into today, shares of the company had lost 31.1% in the past month. In that same time, the Computer and Technology sector lost 1.09%, while the S&P 500 gained 0%.
Investors will be eagerly watching for the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.05, indicating a 37.5% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.67 million, up 17.67% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.68 per share and a revenue of $7.89 million, indicating changes of -88.89% and -26.88%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Rigetti Computing, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Rigetti Computing, Inc. is currently sporting 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 87, this industry ranks in the top 36% 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.
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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