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Rigetti Computing, Inc. (RGTI) Stock Sinks As Market Gains: What You Should Know
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Rigetti Computing, Inc. (RGTI - Free Report) closed at $7.81 in the latest trading session, marking a -1.39% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq increased by 0.87%.
Shares of the company have appreciated by 2.86% over the course of the past month, outperforming the Computer and Technology sector's loss of 8.94% and the S&P 500's loss of 5.59%.
Investors will be eagerly watching for the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.05, up 64.29% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.46 million, indicating a 19.34% decline compared to the corresponding quarter of the prior year.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $14.52 million. These results would represent year-over-year changes of +44.44% and +34.57%, respectively.
It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 29.09% higher. Rigetti Computing, Inc. is currently a Zacks Rank #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Rigetti Computing, Inc. (RGTI) Stock Sinks As Market Gains: What You Should Know
Rigetti Computing, Inc. (RGTI - Free Report) closed at $7.81 in the latest trading session, marking a -1.39% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq increased by 0.87%.
Shares of the company have appreciated by 2.86% over the course of the past month, outperforming the Computer and Technology sector's loss of 8.94% and the S&P 500's loss of 5.59%.
Investors will be eagerly watching for the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.05, up 64.29% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.46 million, indicating a 19.34% decline compared to the corresponding quarter of the prior year.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $14.52 million. These results would represent year-over-year changes of +44.44% and +34.57%, respectively.
It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 29.09% higher. Rigetti Computing, Inc. is currently a Zacks Rank #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.