Rigetti Computing, Inc. (RGTI) Stock Sinks As Market Gains: Here's Why
Rigetti Computing, Inc. (RGTI) closed the most recent trading day at $0.76, moving -0.65% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.56%.
Shares of the company witnessed a loss of 19.13% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.11% and the S&P 500's gain of 1.65%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.08, up 38.46% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.33 million, indicating a 7.07% growth compared to the corresponding quarter of the prior year.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.34 per share and revenue of $12.82 million. These results would represent year-over-year changes of +35.85% and +6.77%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Currently, Rigetti Computing, Inc. is carrying a Zacks Rank of #3 (Hold).
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report