Rigetti Computing, Inc. (RGTI) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Rigetti Computing, Inc. (RGTI) reached $0.78, with a -0.74% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.97% for the day. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.45%.
Shares of the company have appreciated by 14.04% over the course of the past month, outperforming the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 5.41%.
Investors will be eagerly watching for the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. In that report, analysts expect Rigetti Computing, Inc. to post earnings of -$0.08 per share. This would mark year-over-year growth of 38.46%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.33 million, indicating a 7.07% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.34 per share and a revenue of $12.82 million, demonstrating changes of +35.85% and +6.77%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Rigetti Computing, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report