Summary:
- Rigetti Computing (RGTI, Financial) sees a positive market response after new coverage and a forecasted upside.
- Analysts set favorable price targets, indicating potential growth.
- GuruFocus estimates suggest caution regarding the company's stock value trajectory.
Rigetti Computing Inc. (RGTI), a leading name in the quantum computing sector, experienced a 1.3% rise in premarket trading. This uptick follows Cantor Fitzgerald's initiation of coverage, assigning an "Overweight" rating coupled with a $15 price target. The firm has bolstered its financial resources by raising $350 million through an equity offering.
Wall Street Analysts Forecast
Analysts have shown strong interest in Rigetti Computing, with five providing one-year price targets. The average target price stands at $14.80, ranging from a high of $16.00 to a low of $14.00. This average target indicates a significant upside of 30.74% from the current trading price of $11.32. For further details, investors can visit the Rigetti Computing Inc (RGTI, Financial) Forecast page.
Brokerage consensus reflects optimism, as Rigetti holds an average brokerage recommendation score of 2.0, categorizing it under "Outperform." This rating falls on a scale from 1 to 5, where 1 equates to a Strong Buy and 5 signifies a Sell position.
Evaluating GF Value
GuruFocus presents a more conservative view with its proprietary GF Value measure for Rigetti Computing. The estimated GF Value in one year is projected at $0.80, pointing to a potential downside of 92.93% from the current price of $11.32. This valuation metric is calculated considering historical trading multiples, past growth, and anticipated business performance. More comprehensive insights can be accessed on the Rigetti Computing Inc (RGTI, Financial) Summary page.
