Rigetti Computing, Inc. (RGTI) closed the most recent trading day at $15.74, moving -1.32% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.17%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had gained 1.85% in the past month. In that same time, the Computer and Technology sector gained 3.58%, while the S&P 500 lost 0.24%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 66.67% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $3.89 million, up 99.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.19 per share and a revenue of $24.55 million, demonstrating changes of +70.31% and +246.36%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Rigetti Computing, Inc. boasts a Zacks Rank of #5 (Strong Sell).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 38% 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.
To follow RGTI in the coming trading sessions, be sure to utilize Zacks.com.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).