Rigetti Computing, Inc. (RGTI) Outperforms Broader Market: What You Need to Know
Rigetti Computing, Inc. (RGTI) closed at $0.77 in the latest trading session, marking a +1.62% move from the prior day. This change outpaced the S&P 500's 0.01% gain on the day. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.08%.
Shares of the company witnessed a loss of 9.41% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.03% and the S&P 500's gain of 1.21%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.08, marking a 38.46% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.33 million, up 7.07% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.34 per share and a revenue of $12.82 million, signifying shifts of +35.85% and +6.77%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rigetti Computing, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Rigetti Computing, Inc. is currently a Zacks Rank #3 (Hold).
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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