The latest trading session saw Rigetti Computing, Inc. (RGTI) ending at $9.07, denoting a +0.89% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.52%.
Heading into today, shares of the company had lost 21.62% over the past month, lagging the Computer and Technology sector's loss of 12.04% and the S&P 500's loss of 7.33% in that time.
The upcoming earnings release of Rigetti Computing, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 64.29% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.46 million, indicating a 19.34% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.20 per share and revenue of $14.52 million. These totals would mark changes of +44.44% and +34.57%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rigetti Computing, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 29.09% higher. At present, Rigetti Computing, Inc. boasts a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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This article originally published on Zacks Investment Research (zacks.com).
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