University of Kwazulu-Natal

Why Is Rigetti Computing Stock Soaring Today Yahoo Finance

Bonisiwe Shabane
-
why is rigetti computing stock soaring today yahoo finance

CNBC's Jim Cramer recently suggested that Rigetti Computing stock could have big upside. Cramer had previously indicated Rigetti looked like a poor play in the quantum space, so the change in commentary is notable. Rigetti recently released its most powerful quantum computing platform, and it potentially has some big catalysts on deck later in the year. Rigetti Computing (NASDAQ: RGTI) stock is soaring higher in Thursday's daily trading session. The quantum computing specialist's share price was up 9.6% as of 3:15 p.m. ET.

Meanwhile, the S&P 500 had risen 0.3%, and the Nasdaq Composite was up 0.6%. The quantum stock had been up as much as 12.2% earlier today. Rigetti's valuation is surging thanks to recent comments from Jim Cramer, the host of CNBC's Mad Money television show. With today's pop, the stock is now up roughly 19% over the last three months despite some big volatility across the stretch. Rigetti Computing, Inc. (RGTI Quick QuoteRGTI - Free Report) has recently been on Zacks.com's list of the most searched stocks.

Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this company have returned +0.7%, compared to the Zacks S&P 500 composite's +3% change. During this period, the Zacks Internet - Software industry, which Rigetti Computing falls in, has gained 7.9%. The key question now is: What could be the stock's future direction? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually... Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection.

This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

People Also Search

CNBC's Jim Cramer Recently Suggested That Rigetti Computing Stock Could

CNBC's Jim Cramer recently suggested that Rigetti Computing stock could have big upside. Cramer had previously indicated Rigetti looked like a poor play in the quantum space, so the change in commentary is notable. Rigetti recently released its most powerful quantum computing platform, and it potentially has some big catalysts on deck later in the year. Rigetti Computing (NASDAQ: RGTI) stock is so...

Meanwhile, The S&P 500 Had Risen 0.3%, And The Nasdaq

Meanwhile, the S&P 500 had risen 0.3%, and the Nasdaq Composite was up 0.6%. The quantum stock had been up as much as 12.2% earlier today. Rigetti's valuation is surging thanks to recent comments from Jim Cramer, the host of CNBC's Mad Money television show. With today's pop, the stock is now up roughly 19% over the last three months despite some big volatility across the stretch. Rigetti Computin...

Therefore, You Might Want To Consider Some Of The Key

Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this company have returned +0.7%, compared to the Zacks S&P 500 composite's +3% change. During this period, the Zacks Internet - Software industry, which Rigetti Computing falls in, has gained 7.9%. The key question now is: What could be the ...

This Is Because We Believe The Fair Value For Its

This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the curre...