Key Highlights:
- Rigetti Computing (RGTI, Financial) shares jumped 16.30%, closing at $10.63, driven by positive investor sentiment.
- The company recently secured a $35 million investment and a significant $100 million quantum computing partnership with Quanta.
- Analysts project an average price target of $14.80, signaling potential growth.
Recent Surge in Rigetti Computing Shares
Rigetti Computing (RGTI) experienced an impressive surge of 16.30% on Friday, with shares closing at $10.63. This rise is fueled by investor optimism surrounding the upcoming earnings report and the company's strategic initiatives, including a $35 million investment and an ambitious $100 million partnership with Quanta to accelerate quantum computing development.
Wall Street Analysts' Forecast
Wall Street analysts remain bullish on Rigetti Computing, offering a one-year average price target of $14.80. With a high estimate of $17.00 and a low of $12.00, the average target presents a promising upside of 39.23% from the current price. For a detailed breakdown of their estimates, visit the Rigetti Computing Inc (RGTI, Financial) Forecast page.
Brokerage Recommendations
With a consensus recommendation from six brokerage firms, Rigetti Computing holds an average brokerage recommendation score of 2.0, suggesting an "Outperform" status. The rating system ranges from 1 to 5, where 1 indicates a Strong Buy and 5 indicates Sell. This optimism reflects confidence in Rigetti's potential to outperform market expectations.
Understanding GF Value Estimates
Interestingly, GuruFocus estimates Rigetti Computing's GF Value at $0.92 in the coming year, indicating a significant downside of 91.35% from the current price. GF Value represents GuruFocus' calculation of the stock's fair trading value. It is derived from historical trading multiples, business growth history, and future business performance estimates. For more in-depth data, explore the Rigetti Computing Inc (RGTI, Financial) Summary page.
