Rigetti Computing, Inc. (RGTI) closed at $19.45 in the latest trading session, marking a +1.78% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.26%. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.36%.
Coming into today, shares of the company had gained 21.95% in the past month. In that same time, the Computer and Technology sector gained 9.34%, while the S&P 500 gained 5.98%.
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, up 37.5% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.25 million, reflecting a 120.75% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.17 per share and a revenue of $25.14 million, demonstrating changes of +73.44% and +254.73%, 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 revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. presently features a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).