Rigetti Computing, Inc. (RGTI) ended the recent trading session at $13.45, demonstrating a +2.83% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.83%. At the same time, the Dow added 0.77%, and the tech-heavy Nasdaq gained 1.02%.
Shares of the company witnessed a gain of 10.66% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.25%, and the S&P 500's gain of 4.99%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.06, signifying a 14.29% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.91 million, indicating a 38.19% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.05 per share and revenue of $8.78 million, which would represent changes of +86.11% and -18.63%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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, 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, there's been no change in the Zacks Consensus EPS estimate. As of now, Rigetti Computing, Inc. holds a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% 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.
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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