The most recent trading session ended with Rigetti Computing, Inc. (RGTI) standing at $11.16, reflecting a -0.53% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow experienced a rise of 0.85%, and the technology-dominated Nasdaq saw an increase of 0.31%.
Coming into today, shares of the company had lost 5% in the past month. In that same time, the Computer and Technology sector lost 11.22%, while the S&P 500 lost 7.69%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.05, showcasing a 64.29% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $2.46 million, down 19.34% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.20 per share and a revenue of $14.52 million, signifying shifts of +44.44% and +34.57%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 29.09% higher within the past month. As of now, Rigetti Computing, Inc. holds a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 120, this industry ranks in the top 48% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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