Rigetti(US:RGTI) ZACKS·2024-10-08 23:06Company Performance - Rigetti Computing, Inc. (RGTI) closed at $0.78, reflecting a -0.74% change from the previous day, underperforming the S&P 500 which gained 0.97% [1] - Over the past month, shares of Rigetti have appreciated by 14.04%, outperforming the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 5.41% [1] Earnings Expectations - Analysts expect Rigetti to report earnings of -$0.08 per share, indicating a year-over-year growth of 38.46% [2] - The consensus estimate for revenue is $3.33 million, representing a 7.07% increase compared to the same quarter of the previous year [2] Full Year Projections - For the full year, Zacks Consensus Estimates project earnings of -$0.34 per share and revenue of $12.82 million, showing changes of +35.85% and +6.77% respectively from the previous year [3] Analyst Projections - Recent shifts in analyst projections for Rigetti are important as they reflect near-term business trends, with positive revisions indicating analysts' confidence in the company's performance [4] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a track record of success, with 1 stocks delivering an average annual return of +25% since 1988 [6] - Rigetti currently holds a Zacks Rank of 3 (Hold), with the consensus EPS projection remaining stagnant over the past 30 days [6] Industry Context - The Computer - Software industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 66, placing it in the top 27% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]