The latest trading session saw Rigetti Computing, Inc. (RGTI) ending at $1.12, denoting a -0.88% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 1.23%. Elsewhere, the Dow saw an upswing of 1.02%, while the tech-heavy Nasdaq appreciated by 1.43%.
The company's stock has climbed by 44% in the past month, exceeding the Computer and Technology sector's loss of 0.04% and the S&P 500's loss of 0.54%.
The investment community will be paying close attention to the earnings performance of Rigetti Computing, Inc. in its upcoming release. The company is slated to reveal its earnings on November 12, 2024. The company's earnings per share (EPS) are projected to be -$0.08, reflecting a 38.46% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $3.33 million, showing a 7.07% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.34 per share and a revenue of $12.82 million, indicating changes of +35.85% and +6.77%, respectively, from the former 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Rigetti Computing, Inc. is currently a Zacks Rank #3 (Hold).
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RGTI in the coming trading sessions, be sure to utilize Zacks.com.
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