Rigetti Computing, Inc. (RGTI) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Rigetti Computing, Inc. (RGTI) closed at $13.03, marking a -3.55% move from the previous day. This move lagged the S&P 500’s daily gain of 0.28%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.09%.
Shares of the company have appreciated by 7.91% over the course of the past month, outperforming the Computer and Technology sector’s gain of 6.2%, and the S&P 500’s gain of 4.37%.
Analysts and investors alike will be keeping a close eye on the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. 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, the latest consensus estimate predicts the revenue to be $1.91 million, indicating a 38.19% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.05 per share and a revenue of $8.78 million, signifying shifts of +86.11% and -18.63%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Rigetti Computing, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there’s been a 1.92% rise in the Zacks Consensus EPS estimate. Rigetti Computing, Inc. is currently a Zacks Rank #4 (Sell).
The Internet – Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.