In the latest trading session, Rigetti Computing, Inc. (RGTI) ended at $1.05, up +0.96% from the previous trading day’s closing price. The stock underperformed the S&P 500, which gained 1.08% on the day, while the Dow rose 0.32% and the tech-heavy Nasdaq added 1.58%.
Heading into today, shares of the company had gained 9.12% over the past month, during which the Computer and Technology sector had fallen 4.77%, while the S&P 500 had gained 0.43%.
Market participants will be closely watching Rigetti Computing, Inc.’s upcoming financial results. On that day, Rigetti Computing, Inc. is expected to report earnings of -$0.06 per share, which would represent year-over-year growth of 53.85%.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. These revisions help indicate that short-term business trends are always changing, With this in mind, positive estimate revisions can be considered a sign of optimism for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with future stock price movements, and investors can take advantage of this by using the Zacks Rank, which is our model that takes these estimate changes into account and delivers a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive, independently-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has remained stagnant within the past month. Currently, Rigetti Computing, Inc. is holding a Zacks Rank #3 (Hold).
The Computer – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of #157, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst based on the average Zacks Rank of the individual companies within each sector, and our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Stay up to date on stock-moving metrics and more with Zacks.com during the next trading session.
Want the latest recommendations from Zacks Investment Research? Download today: 7 Best Stocks for the Next 30 Days Click to get this free report.
Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
