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Rigetti Computing (RGTI) Moves 12.5% Higher: Will This Strength Last?
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Rigetti Computing, Inc. (RGTI - Free Report) shares soared 12.5% in the last trading session to close at $24.74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 49% gain over the past four weeks.
Rigetti Computing is benefiting from new contracts and collaborations, including a $5.8M Air Force deal with QphoX and work with India’s CDAC, boosting its client base and growth prospects.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +37.5%. Revenues are expected to be $2.39 million, up 0.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Rigetti Computing, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGTI going forward to see if this recent jump can turn into more strength down the road.
Rigetti Computing is part of the Zacks Internet - Software industry. BILL Holdings (BILL - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $52.59. BILL has returned 24.7% in the past month.
For BILL Holdings, the consensus EPS estimate for the upcoming report has changed -58.5% over the past month to $0.51. This represents a change of -19.1% from what the company reported a year ago. BILL Holdings currently has a Zacks Rank of #3 (Hold).
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Rigetti Computing (RGTI) Moves 12.5% Higher: Will This Strength Last?
Rigetti Computing, Inc. (RGTI - Free Report) shares soared 12.5% in the last trading session to close at $24.74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 49% gain over the past four weeks.
Rigetti Computing is benefiting from new contracts and collaborations, including a $5.8M Air Force deal with QphoX and work with India’s CDAC, boosting its client base and growth prospects.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +37.5%. Revenues are expected to be $2.39 million, up 0.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Rigetti Computing, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Rigetti Computing is part of the Zacks Internet - Software industry. BILL Holdings (BILL - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $52.59. BILL has returned 24.7% in the past month.
For BILL Holdings, the consensus EPS estimate for the upcoming report has changed -58.5% over the past month to $0.51. This represents a change of -19.1% from what the company reported a year ago. BILL Holdings currently has a Zacks Rank of #3 (Hold).