In the latest trading session, Rigetti Computing, Inc. (RGTI) closed at $11.09, marking a -3.57% move from the previous day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.31%.
The company's stock has dropped by 18.96% in the past month, falling short of the Computer and Technology sector's gain of 7.62% and the S&P 500's gain of 5.05%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. The company is expected to report EPS of -$0.06, up 14.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.91 million, down 38.19% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.05 per share and a revenue of $8.78 million, demonstrating changes of +86.11% and -18.63%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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, the Zacks Consensus EPS estimate has remained steady. Rigetti Computing, Inc. is currently a Zacks Rank #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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