Rigetti Computing (RGTI) Moves 12.5% Higher: Will This Strength Last?

Company Overview - Rigetti Computing, Inc. (RGTI) shares increased by 12.5% to close at $24.74, with a significant trading volume compared to normal sessions, and a total gain of 49% over the past four weeks [1] - The company is securing new contracts, including a $5.8 million deal with the Air Force and collaboration with India's CDAC, enhancing its client base and growth potential [1] Financial Performance - Rigetti Computing is projected to report a quarterly loss of $0.05 per share, reflecting a year-over-year improvement of 37.5%, with expected revenues of $2.39 million, a slight increase of 0.4% from the previous year [2] - The consensus EPS estimate for Rigetti has remained stable over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [3] Industry Context - Rigetti Computing operates within the Zacks Internet - Software industry, where another company, BILL Holdings, has also shown positive performance, closing 1.3% higher at $52.59 and achieving a 24.7% return in the past month [3] - BILL Holdings has seen a significant change in its EPS estimate, dropping by 58.5% over the past month to $0.51, which is a 19.1% decrease from the previous year [4]