There’s Still Time to Buy Rigetti Computing Inc. (NASDAQ:RGTI) Stock

In yesterday’s Wall Street session, Rigetti Computing Inc. (NASDAQ:RGTI) shares traded at $1.79, up 0.56% from the previous session.

3 analysts cover Rigetti Computing Inc. (NASDAQ:RGTI), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $3.00, we find $3.50. Given the previous closing price of $1.78, this indicates a potential upside of 96.63 percent. RGTI stock price is now -11.80% away from the 50-day moving average and 59.43% away from the 200-day moving average. The market capitalization of the company currently stands at $247.04M.

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The stock has received a hold rating from 0 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $3.50 as their price target over the next twelve months.

With the price target maintained at $4, The Benchmark Company recently Upgraded its rating from Hold to Buy for Rigetti Computing Inc. (NASDAQ: RGTI).

In other news, Fitzgerald Alissa, Director sold 8,000 shares of the company’s stock on Sep 01. The stock was sold for $14,400 at an average price of $1.80. Upon completion of the transaction, the Director now directly owns 140,810 shares in the company, valued at $0.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 17, General Counsel & Corp. Sec. Danis Richard sold 40,084 shares of the business’s stock. A total of $76,560 was realized by selling the stock at an average price of $1.91. This leaves the insider owning 1,136,232 shares of the company worth $2.03 million. Insiders disposed of 1,208,540 shares of company stock worth roughly $2.16 million over the past 1 year. A total of 10.60% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in RGTI stock. A new stake in Rigetti Computing Inc. shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $1,829,000. MYDA ADVISORS LLC invested $358,000 in shares of RGTI during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Rigetti Computing Inc. valued at approximately $197,000. Y-INTERCEPT (HONG KONG) LTD acquired a new stake in RGTI for approximately $183,000. OLD MISSION CAPITAL, LLC purchased a new stake in RGTI valued at around $121,000 in the second quarter.

On Tuesday morning Rigetti Computing Inc. (NASDAQ: RGTI) stock kicked off with the opening price of $1.8600. During the past 12 months, Rigetti Computing Inc. has had a low of $0.36 and a high of $3.43. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 5.50, and a quick ratio of 5.50. The fifty day moving average price for RGTI is $2.0356 and a two-hundred day moving average price translates $1.1252 for the stock.

The latest earnings results from Rigetti Computing Inc. (NASDAQ: RGTI) was released for Jun, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.13, beating analysts’ expectations of -$0.17 by 0.04. This compares to -$0.11 EPS in the same period last year. The company reported revenue of $3.33 million for the quarter, compared to $2.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 55.9 percent. For the current quarter, analysts expect RGTI to generate $3.4M in revenue.

Rigetti Computing Inc.(RGTI) Company Profile

Rigetti Computing, Inc., through its subsidiaries, builds quantum computers and the superconducting quantum processors. Its quantum computing as a Service platform can be integrated into any public, private, or hybrid cloud. The company offers product types of platform, research, and software tools, which are used in application areas of benchmarking, chemical simulation, education/entertainment, machine learning, and optimization. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is based in Berkeley, California.

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