Rigetti Computing, Inc. (RGTI) Stock Drops Despite Market Gains: Important Facts to Note

In the latest close session, Rigetti Computing, Inc. (RGTI) was down 3.05% at $31.12. This change lagged the S&P 500's 0.59% gain on the day. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.44%. The company's shares have seen an increase of 93.61% over the last month, surpassing the Computer and Technology sector's gain of 7.68% and the S&P 500's gain of 2.72%.The upcoming earnings release of Rigetti Computing, Inc. will be of great interest to investors. In that report, analysts expect Rigetti Computing, Inc. to post earnings of -$0.05 per share. This would mark year-over-year growth of 37.5%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.39 million, indicating a 0.42% increase compared to the same quarter of the previous year. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.09 per share and a revenue of $8.67 million, signifying shifts of +75% and -19.65%, respectively, from the last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 9.8% upward. Rigetti Computing, Inc. currently has a Zacks Rank of #3 (Hold). The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 27% of all 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. Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rigetti Computing, Inc. (RGTI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks