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Why Rigetti Computing Stock Blasted 18 Skyward Today Nasdaq

Bonisiwe Shabane
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why rigetti computing stock blasted 18 skyward today nasdaq

Written by Eric Volkman for The Motley Fool-> The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing (NASDAQ: RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer. An analyst's price target raise didn't hurt either. That raise absolutely crushed the S&P 500 (SNPINDEX: ^GSPC), which only crept 0.1% higher that day. That peer is Quantinuum, a company in which U.S.

industrial giant Honeywell owns a stake. On Wednesday, Quantinuum announced that it is creating a joint venture with Qatar's Al Rabban Capital to develop that country's quantum computing capability. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Quantinuum added that the Qatari state is to invest up to $1 billion over a 10-year stretch for the project, which includes not only expanding the technology, but training individuals to develop it.

The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing (NASDAQ: RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer. An analyst's price target raise didn't hurt either. That raise absolutely crushed the S&P 500 (SNPINDEX: ^GSPC), which only crept 0.1% higher that day. That peer is Quantinuum, a company in which U.S. industrial giant Honeywell owns a stake.

On Wednesday, Quantinuum announced that it is creating a joint venture with Qatar's Al Rabban Capital to develop that country's quantum computing capability. Quantinuum added that the Qatari state is to invest up to $1 billion over a 10-year stretch for the project, which includes not only expanding the technology, but training individuals to develop it. The announcement came in the midst of an official visit by President Trump to the Middle East; soon after the visit began, the White House enthusiastically touted a clutch of business deals freshly closed... Among the businesses highlighted by the administration was Quantinuum. This was bolstered by the price target raise, which was enacted by Craig-Hallum analyst Richard Shannon. He pushed his Rigetti fair-value assessment up to $14 per share from his previous $12, and maintained his buy recommendation.

The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing (NASDAQ: RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer. An analyst's price target r... ProInvestor.com er Danmarks største uafhængige investorsite med debat, chat og nyheder. The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing(NASDAQ: RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer.

An analyst's price target raise didn't hurt either. That raise absolutely crushed the S&P 500(SNPINDEX: ^GSPC), which only crept 0.1% higher that day. That peer is Quantinuum, a company in which U.S. industrial giant Honeywell owns a stake. On Wednesday, Quantinuum announced that it is creating a joint venture with Qatar's Al Rabban Capital to develop that country's quantum computing capability. Where to invest $1,000 right now?

Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Quantinuum added that the Qatari state is to invest up to $1 billion over a 10-year stretch for the project, which includes not only expanding the technology, but training individuals to develop it. The announcement came in the midst of an official visit by President Trump to the Middle East; soon after the visit began, the White House enthusiastically touted a clutch of business deals freshly closed... Among the businesses highlighted by the administration was Quantinuum. Rigetti Computing, Inc.

(NASDAQ:RGTI) shares are trading higher on Wednesday. The firm released its second-quarter results after Tuesday’s closing bell, with quarterly losses of 13 cents per share, which missed the analyst consensus estimate for losses of 6 cents. Quarterly revenue came in at $1.8 million, which missed the analyst consensus estimate of $1.88 million and is down from revenue of $3.086 million from the same period last year. Also Read: Rigetti Vs. IonQ: Will Cash Beat Speed In Race For Quantum Advantage? Despite the miss, Wall Street analysts maintained bullish outlooks, pointing to progress on Rigetti’s technology roadmap.

The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing (NASDAQ:RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer. An analyst's price target raise didn't hurt either. That raise absolutely crushed the S&P 500 (SNPINDEX:$SPX), which only crept 0.1% higher that day. That peer is Quantinuum, a company in which U.S. industrial giant Honeywell owns a stake.

On Wednesday, Quantinuum announced that it is creating a joint venture with Qatar's Al Rabban Capital to develop that country's quantum computing capability. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Quantinuum added that the Qatari state is to invest up to $1 billion over a 10-year stretch for the project, which includes not only expanding the technology, but training individuals to develop it. The announcement came in the midst of an official visit by President Trump to the Middle East; soon after the visit began, the White House enthusiastically touted a clutch of business deals freshly closed...

Among the businesses highlighted by the administration was Quantinuum. Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.68 and last traded at $20.97, with a volume of 48437809 shares traded. The stock had previously closed at $20.00. A number of analysts have recently issued reports on the company.

Alliance Global Partners reaffirmed a "buy" rating on shares of Rigetti Computing in a research note on Wednesday, July 16th. Benchmark boosted their price objective on Rigetti Computing from $14.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Needham & Company LLC boosted their price objective on Rigetti Computing from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Industrial Alliance Securities set a $18.00 price objective on Rigetti Computing in a research note on Wednesday, July 16th. Finally, Williams Trading set a $20.00 price objective on Rigetti Computing in a research note on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $17.43.

View Our Latest Report on Rigetti Computing The company has a market cap of $9.25 billion, a PE ratio of -37.53 and a beta of 1.44. The stock has a 50-day simple moving average of $16.41 and a 200 day simple moving average of $12.55. Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. Rigetti Computing had a negative return on equity of 29.05% and a negative net margin of 2,134.92%.The company had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.87 million.

As a group, research analysts anticipate that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

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