In the latest close session, Rigetti Computing, Inc. (RGTI) was down 4.47% at $11.33. The stock fell short of the S&P 500, which registered a loss of 0.11% for the day. Meanwhile, the Dow gained 0.91%, and the Nasdaq, a tech-heavy index, lost 0.82%.
Coming into today, shares of the company had lost 3.26% in the past month. In that same time, the Computer and Technology sector gained 8.76%, while the S&P 500 gained 5.17%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. On that day, Rigetti Computing, Inc. is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $1.91 million, down 38.19% from the prior-year quarter.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $8.78 million. These results would represent year-over-year changes of +86.11% and -18.63%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Rigetti Computing, Inc. is carrying a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 40, placing it within the top 17% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
