Rigetti Computing, Inc. (RGTI) closed the latest trading day at $13.72, indicating a +1.86% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.72%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.35%.
The company's stock has dropped by 30.96% in the past month, falling short of the Computer and Technology sector's loss of 1.35% and the S&P 500's gain of 1.02%.
The investment community will be paying close attention to the earnings performance of Rigetti Computing, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.08, signifying a 11.11% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.4 million, down 28.99% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Rigetti Computing, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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 66, which puts it in the top 27% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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