Rigetti Computing, Inc. (RGTI) Stock Dips While Market Gains: Key Facts

Rigetti Computing, Inc. (RGTI) closed at $15.16 in the latest trading session, marking a -2.84% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.54% for the day. Meanwhile, the Dow experienced a rise of 0.66%, and the technology-dominated Nasdaq saw an increase of 0.77%.

Heading into today, shares of the company had lost 5.34% over the past month, lagging the Computer and Technology sector's loss of 5% and the S&P 500's loss of 4.71%.

Analysts and investors alike will be keeping a close eye on the performance of Rigetti Computing, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.05, showcasing a 37.5% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $3.25 million, up 120.75% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $25.14 million. These totals would mark changes of +73.44% and +254.73%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Rigetti Computing, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.86% increase. As of now, Rigetti Computing, Inc. holds a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 36% of over 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): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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