Rigetti Computing (RGTI) Moves 5.3% Higher: Will This Strength Last?

Company Overview - Rigetti Computing, Inc. (RGTI) shares increased by 5.3% to $43.91 in the last trading session, with a notable trading volume and a total gain of 175.3% over the past four weeks [1][2]. Recent Developments - The recent surge in RGTI shares is linked to the announcement of $5.7 million in commercial purchase orders for its 9-qubit Novera quantum systems, indicating strong demand from an Asian technology manufacturer and a U.S. national laboratory [2]. - This milestone reflects Rigetti's progress in the commercialization of its quantum technology and aligns with the growing interest in quantum tech from both government and private sectors [2]. Financial Expectations - The company is projected to report a quarterly loss of $0.05 per share, which is a 37.5% improvement year-over-year, with expected revenues of $2.39 million, marking a 0.4% increase from the previous year [3]. - The consensus EPS estimate for the upcoming quarter has remained stable over the last 30 days, suggesting that stock price movements may be influenced by trends in earnings estimate revisions [4]. Industry Context - Rigetti Computing is categorized under the Zacks Internet - Software industry, where it holds a Zacks Rank of 3 (Hold) [5]. - In comparison, another company in the same industry, Flywire (FLYW), experienced a decline of 5.9% to $12.68, with a return of 1.9% over the past month [5][6].