Rigetti Computing, Inc. (RGTI) closed the latest trading day at $1.21, indicating a -1.63% change from the previous session's end. This change lagged the S&P 500's 0.92% loss on the day. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.6%.
The the stock of company has risen by 61.84% in the past month, leading the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 2.68%.
Investors will be eagerly watching for the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.08, signifying a 38.46% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $3.33 million, up 7.07% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.34 per share and a revenue of $12.82 million, demonstrating changes of +35.85% and +6.77%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Rigetti Computing, Inc. holds a Zacks Rank of #3 (Hold).
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 59, this industry ranks in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report
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