Rigetti Computing, Inc. (RGTI) closed at $12.78 in the latest trading session, marking a -3.55% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.02%. Elsewhere, the Dow saw a downswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.15%.
Shares of the company witnessed a loss of 13.23% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.58%, and the S&P 500's gain of 2.05%.
The upcoming earnings release of Rigetti Computing, Inc. will be of great interest to investors. The company is expected to report EPS of -$0.05, down 66.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.89 million, up 99.64% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.19 per share and revenue of $24.55 million, indicating changes of +70.31% and +246.36%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Rigetti Computing, Inc. presently features a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 33% echelons 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.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Want 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).