Summary:
- Rigetti Computing sees a significant surge in stock price after achieving a technological milestone in quantum computing.
- Wall Street analysts suggest a potential downside with their average target price.
- GuruFocus estimates indicate a substantial overvaluation compared to the current stock price.
Rigetti Computing (RGTI, Financial) experienced a remarkable 19% increase in its stock price during Wednesday's trading session, following a momentous advancement in its quantum computing technology. The company disclosed a 99.5% median two-qubit gate fidelity on its 36-qubit system, signifying a pivotal move towards achieving profitability and practical applications in the real world.
Wall Street Analysts Insight
According to projections from six analysts, the average one-year price target for Rigetti Computing Inc (RGTI, Financial) stands at $14.83, with the range extending from a high of $16.00 to a low of $14.00. This average target suggests a potential downside of 7.36% from the current stock price of $16.01. For in-depth estimates and insights, be sure to visit the Rigetti Computing Inc (RGTI) Forecast page.
Brokerage Firms' Recommendations
The consensus recommendation from seven brokerage firms positions Rigetti Computing Inc (RGTI, Financial) with an average brokerage recommendation of 2.0, classifying it as "Outperform." This rating lies within a scale from 1 to 5, where 1 indicates a Strong Buy, and 5 denotes a Sell.
GuruFocus Valuation
GuruFocus's estimates place the GF Value for Rigetti Computing Inc (RGTI, Financial) at $0.80 in one year, implying a dramatic downside of 95% from the current share price of $16.0124. The GF Value represents GuruFocus' assessment of the fair value the stock should be traded at, calculated based on historical trade multiples, past business growth, and future performance estimates. For a detailed breakdown, visit the Rigetti Computing Inc (RGTI) Summary page.
