Rigetti Computing, Inc. (RGTI) Stock Sinks As Market Gains: What You Should Know

Rigetti Computing, Inc. (RGTI) closed the most recent trading day at $21.75, moving -7.25% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.5%. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.43%. Heading into today, shares of the company had gained 4.78% over the past month, outpacing the Computer and Technology sector's loss of 0.15% and the S&P 500's gain of 0.18%.Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. 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. Meanwhile, our latest consensus estimate is calling for revenue of $2.67 million, up 17.67% from the prior-year quarter. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.68 per share and a revenue of $7.89 million, signifying shifts of -88.89% and 0%, respectively, from the last year. It is also important to note the recent changes to analyst estimates for Rigetti Computing, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Rigetti Computing, Inc. is carrying a Zacks Rank of #3 (Hold). The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 74, putting it in the top 31% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. 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