Why Rigetti Computing, Inc. (RGTI) Outpaced the Stock Market Today

Company Performance - Rigetti Computing, Inc. closed at $13.72, reflecting a +1.86% change from the previous session, outperforming the S&P 500's daily gain of 0.72% [1] - The stock has experienced a significant decline of 30.96% over the past month, contrasting with the Computer and Technology sector's loss of 1.35% and the S&P 500's gain of 1.02% [1] Earnings Projections - The upcoming EPS for Rigetti Computing is projected at -$ 0.08, indicating an 11.11% increase compared to the same quarter last year [2] - Quarterly revenue is estimated at $2.4 million, which represents a decrease of 28.99% from the year-ago period [2] Analyst Estimates - Changes in analyst estimates for Rigetti Computing are crucial as they reflect the evolving nature of near-term business trends [3] - Positive estimate revisions indicate analyst optimism regarding the company's business and profitability [3] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with 1 stocks averaging an annual return of +25% since 1988 [5] - Rigetti Computing currently holds a Zacks Rank of 3 (Hold), with no changes in the Zacks Consensus EPS estimate over the past month [5] Industry Overview - The Internet - 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 [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]