July 2 - Rigetti Computing (RGTI, Financial) shares jumped more than 6% on Wednesday after Cantor Fitzgerald initiated coverage with an Overweight rating and a $15 price target.
Analyst Troy Jensen said quantum computing “is in its infancy but remains one of the most highly coveted technical milestones with enormous economic implications.” He added that while full‑scale quantum systems are still years away, investor interest has driven “meaningful appreciation” and left valuations “steep” relative to near‑term revenue and earnings estimates.
Rigetti recently completed a $350 million at‑the‑market equity offering to bolster its balance sheet and fund ongoing research and development.
Investors will watch how the company leverages this capital to advance its quantum hardware roadmap and capture market share as the quantum computing sector evolves.
Is RGTI Stock a Buy Now?
Based on the one year price targets offered by 5 analysts, the average target price for Rigetti Computing Inc is $14.80 with a high estimate of $16.00 and a low estimate of $14.00. The average target implies a upside of +22.52% from the current price of $12.08.
