In the latest trading session, Rigetti Computing, Inc. (RGTI) closed at $11.48, marking a -4.73% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.21% for the day. On the other hand, the Dow registered a gain of 0.02%, and the technology-centric Nasdaq decreased by 2.6%.
The company's shares have seen a decrease of 24.71% over the last month, not keeping up with the Computer and Technology sector's loss of 3.87% and the S&P 500's loss of 0.03%.
The investment community will be paying close attention to the earnings performance of Rigetti Computing, Inc. in its upcoming release. The company is expected to report EPS of -$0.05, down 66.67% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.89 million, reflecting a 99.64% rise from the equivalent quarter last year.
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. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 remained unchanged. Rigetti Computing, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).