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Rigetti Computing, Inc. (RGTI) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Rigetti Computing, Inc. (RGTI - Free Report) ended the recent trading session at $20.25, demonstrating a -1.91% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 1.22%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.35%.
The stock of company has risen by 29.32% in the past month, leading the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.03, showcasing a 40% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $4.91 million, indicating a 173% upward movement from the same quarter last year.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $25.32 million. These results would represent year-over-year changes of +71.88% and +257.28%, respectively.
It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Rigetti Computing, Inc. currently has a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 36% echelons of all 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.
View the Zacks #1 Rank List
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Rigetti Computing, Inc. (RGTI) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Rigetti Computing, Inc. (RGTI - Free Report) ended the recent trading session at $20.25, demonstrating a -1.91% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 1.22%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.35%.
The stock of company has risen by 29.32% in the past month, leading the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Rigetti Computing, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.03, showcasing a 40% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $4.91 million, indicating a 173% upward movement from the same quarter last year.
RGTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $25.32 million. These results would represent year-over-year changes of +71.88% and +257.28%, respectively.
It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Rigetti Computing, Inc. currently has a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 36% echelons of all 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.