Could rgti beat earnings?

Rigetti Computing (RGTI) is unlikely to beat earnings, considering the following points:

1. Consensus Estimate: The consensus estimate for Rigetti Computing's revenues is $3.53 million for the quarter ending June 30, 2024. This is lower than the actual revenue reported in the previous quarter, which was $3.09 million. The estimated revenue for the quarter to be reported is slightly above the previous quarter's revenue, but it is important to note that the company's revenue has not shown a significant upward trend.

2. Earnings Estimate: The consensus estimate for Rigetti Computing's earnings per share (EPS) is -$0.1 for the quarter ending June 30, 2024. This indicates that the company is expected to report a loss for the quarter.

3. Recent Performance: Rigetti Computing's stock price has experienced a decline of over 27.3% this quarter. This decline could be indicative of investor expectations regarding the earnings report.
4. Market Conditions: The digital advertising market is large and growing, but it is also becoming more diverse, which creates challenges for companies like Rigetti Computing. The company's ability to generate revenues through product sales and new contracts from government and commercial clients is expected to be aided by the sale of its Novera QPU to Horizon Quantum Computing in the second quarter of 2024.
5. Analyst Ratings: The consensus rating for Rigetti Computing is "Buy" or "Strong Buy" from multiple analysts, with price targets ranging from $34.00 to $44.00. However, these ratings are based on a longer-term perspective and may not reflect the short-term prospects of the company.

In conclusion, while Rigetti Computing has a "Buy" or "Strong Buy" consensus rating from analysts, the company's recent stock price decline and the expectation of a loss in the upcoming earnings report suggest that it is unlikely to beat earnings. Investors should exercise caution and consider the potential for negative surprises in the earnings report.