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Rigetti Computing, Inc. (RGTI) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Rigetti Computing, Inc. (RGTI - Free Report) closed at $16.86, marking a -8.27% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.89%.
The company's stock has climbed by 21.4% in the past month, exceeding the Computer and Technology sector's gain of 14.93% and the S&P 500's gain of 9.71%.
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 -$0.05 per share, which would represent year-over-year growth of 37.5%. Meanwhile, our latest consensus estimate is calling for revenue of $3.25 million, up 120.75% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $24.66 million, indicating changes of +75% and +247.87%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.71% increase. 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. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Rigetti Computing, Inc. (RGTI) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Rigetti Computing, Inc. (RGTI - Free Report) closed at $16.86, marking a -8.27% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.89%.
The company's stock has climbed by 21.4% in the past month, exceeding the Computer and Technology sector's gain of 14.93% and the S&P 500's gain of 9.71%.
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 -$0.05 per share, which would represent year-over-year growth of 37.5%. Meanwhile, our latest consensus estimate is calling for revenue of $3.25 million, up 120.75% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $24.66 million, indicating changes of +75% and +247.87%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.71% increase. 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. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.