In the latest trading session, Rigetti Computing, Inc. (RGTI) closed at $11.82, marking a -6.45% move from the previous day. This move lagged the S&P 500's daily loss of 1.09%. Meanwhile, the Dow experienced a drop of 0.34%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
The stock of company has fallen by 21.01% in the past month, lagging the Computer and Technology sector's gain of 1.99% and the S&P 500's gain of 2.44%.
Investors will be eagerly watching for the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.05, signifying a 66.67% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $3.89 million, showing a 99.64% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.19 per share and a revenue of $24.55 million, signifying shifts of +70.31% and +246.36%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 witnessed an unchanged state. Rigetti Computing, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).