- Rigetti Computing (RGTI, Financial) secures strategic partnerships and a significant financial award to advance quantum computing.
- Analysts predict a promising average price target of $14.80, signaling potential stock growth.
- Despite positive brokerage sentiment, GuruFocus estimates suggest a significant downside from the current stock price.
Rigetti Computing (RGTI) continues to make strategic advancements by reaching Stage A of DARPA's Quantum Benchmarking Initiative. In collaboration with Riverlane, the company is pushing forward concepts for utility-scale quantum computers. Notably, Rigetti has secured a substantial $5.48 million AFOSR Award to develop innovative chip technology. They have also strengthened their collaboration with Quanta Computer, evidenced by Quanta's $35 million investment in Rigetti stock.
Wall Street Analysts' Insights
Wall Street analysts have provided one-year price targets for Rigetti Computing Inc (RGTI, Financial), with an average target price set at $14.80. The highest projection reaches $17.00, while the lowest is $12.00, indicating a potential upside of 28.14% from the current trading price of $11.55. For more in-depth projections, visit the Rigetti Computing Inc (RGTI) Forecast page.
In terms of broker analysis, Rigetti Computing maintains an "Outperform" status with an average brokerage recommendation of 2.0, based on data from six firms. The recommendation scale ranges from 1 (Strong Buy) to 5 (Sell), reflecting a positive sentiment among analysts about the company's prospects.
GuruFocus Valuation Analysis
While analyst enthusiasm is noteworthy, GuruFocus presents a contrasting view. According to their methodology, the estimated GF Value for Rigetti Computing Inc (RGTI, Financial) in one year is forecasted at $0.92. This suggests an alarming downside of 92.03% from its current price of $11.55. The GF Value metric is a proprietary estimate of a stock's fair value, derived from historical trading multiples, past business growth, and future performance estimates. To explore more detailed valuation metrics, visit the Rigetti Computing Inc (RGTI) Summary page.
