In the latest trading session, Rigetti Computing, Inc. (RGTI) closed at $16.54, marking a -2.65% move from the previous day. This change lagged the S&P 500's 0.42% gain on the day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the company had lost 17.64% lagged the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
Analysts and investors alike will be keeping a close eye on the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.03, up 40% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.91 million, reflecting a 173% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.18 per share and revenue of $25.32 million. These totals would mark changes of +71.88% and +257.28%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Rigetti Computing, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. As of now, Rigetti Computing, Inc. holds a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).