Rigetti Computing, Inc. (RGTI) closed at $43.23 in the latest trading session, marking a -1.55% move from the prior day. This change lagged the S&P 500’s 0.58% gain on the day.
The company’s shares have seen an increase of 166.12% over the last month, surpassing the Computer and Technology sector’s gain of 6.37% and the S&P 500’s gain of 3.68%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. On that day, Rigetti Computing, Inc. is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 37.5%. At the same time, our most recent consensus estimate is projecting a revenue of $2.39 million, reflecting a 0.42% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.09 per share and a revenue of $8.67 million, signifying shifts of +75% and -19.65%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rigetti Computing, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 9.8% higher. Rigetti Computing, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet – Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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