Rigetti Computing (RGTI) Stock Sees Modest Uptick Amid Projected Earnings Decline and Analyst Focus
Rigetti Computing (RGTI) Rises 1.86% Despite Sharp Decline in Past Month, Eyes Earnings Report
Rigetti Computing, Inc. (RGTI) closed the latest trading day at $13.72, showing a +1.86% increase from the previous session, outpacing the S&P 500’s daily gain of 0.72%. The company’s stock was also in the green, outperforming the Dow’s modest upswing of 0.3% and Nasdaq’s more significant appreciation of 1.35%.
However, Rigetti’s stock has faced some struggles recently, falling by 30.96% in the past month. This downturn contrasts with the Computer and Technology sector’s loss of 1.35% and the S&P 500’s 1.02% gain during the same period.
Upcoming Earnings Report: Focus on EPS and Revenue Decline
Investors are closely monitoring Rigetti’s upcoming earnings performance, with the company expected to report earnings per share (EPS) of -$0.08. This marks an 11.11% increase compared to the same quarter in the previous year. However, the company is projected to see a 28.99% year-over-year revenue decline, with expected quarterly revenue of $2.4 million. These figures will be key to assessing Rigetti’s financial health and business outlook.
Zacks Rank: Neutral Sentiment on Rigetti’s Performance
The Zacks Rank system, which reflects analysts’ sentiment based on estimate revisions, currently gives Rigetti a Zacks Rank of #3 (Hold). This indicates a neutral outlook for the stock in the near term, with no significant change in the consensus EPS estimate over the past month. Historically, Zacks Rank #1 (Strong Buy) stocks have outperformed their peers, making it an essential tool for investors looking to navigate the stock’s potential momentum.
Industry Outlook and Market Position
Rigetti Computing operates within the Internet-Software industry, which belongs to the Computer and Technology sector. The industry is currently ranked 66th out of over 250 industries by Zacks, placing it in the top 27%, which is considered a relatively strong position in the market.
Despite the challenging stock performance, Rigetti’s future earnings release and potential estimate revisions from analysts will likely provide critical insights into its near-term prospects.
