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Rigetti Computing, Inc. (RGTI) Stock Drops Despite Market Gains: Important Facts to Note
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Rigetti Computing, Inc. (RGTI - Free Report) closed at $13.84 in the latest trading session, marking a -2.54% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 0.1%.
Coming into today, shares of the company had lost 19.32% in the past month. In that same time, the Computer and Technology sector lost 2.82%, while the S&P 500 lost 1.74%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 37.5% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.25 million, up 120.75% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $25.14 million, which would represent changes of +73.44% and +254.73%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Rigetti Computing, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 41% 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) Stock Drops Despite Market Gains: Important Facts to Note
Rigetti Computing, Inc. (RGTI - Free Report) closed at $13.84 in the latest trading session, marking a -2.54% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 0.1%.
Coming into today, shares of the company had lost 19.32% in the past month. In that same time, the Computer and Technology sector lost 2.82%, while the S&P 500 lost 1.74%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 37.5% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.25 million, up 120.75% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $25.14 million, which would represent changes of +73.44% and +254.73%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Rigetti Computing, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 41% 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.