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Why Rigetti Computing Stock Is Soaring Today Finviz Com

Bonisiwe Shabane
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why rigetti computing stock is soaring today finviz com

Bullish comments on quantum computing’s potential from Microsoft's CEO boosted quantum stocks. CEO Satya Nadella called quantum computing "the next big accelerator" in the cloud. Investors should remain cautious; quantum technology’s commercial viability could still be a long way off. Shares of Rigetti Computing (NASDAQ: RGTI) are jumping on Thursday. The quantum computing start-up's stock rose 4.8% as of 3:30 p.m. ET, but was up as much as 12.6% earlier in the day.

The rise comes as the S&P 500 (SNPINDEX: ^GSPC) was flat and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 0.2%. Rigetti and other quantum stocks saw a boost after Microsoft's earnings call, in which the tech giant's CEO called out quantum computing as "the next big accelerator" in cloud computing. 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. Rigetti Computing Inc (NASDAQ:RGTI) is trading lower Friday afternoon, marking a reversal after a surge earlier in the week driven by retail momentum and sector-wide optimism. The recent volatility comes amid a classic Santa Rally, where retail investors earlier this week rotated into high-beta quantum stocks while institutional trading desks thin out for the holidays. What To Know: Earlier gains this week were fueled by a wave of social media sentiment focused on Rigetti’s 2026 roadmap, which promises higher-qubit systems and significantly lower error rates.

This retail interest was compounded by a halo effect from peers like IonQ and D-Wave, which also saw spikes following strategic milestones and bullish analyst coverage. Notably, Wedbush recently initiated coverage on Rigetti with an Outperform rating and a $35 price target, citing the company’s advanced chiplets and vertically integrated production capabilities as key differentiators. Market observers note that this week’s price action fits the pattern of a “Holiday Gap,” where lower trading volumes between Dec. 20 and New Year’s allow retail sentiment to move small-cap stocks more aggressively. While retail investors likely drove the stock higher earlier in the week on the belief that the “quantum age” could arrive by 2026, Friday’s downturn suggests a pause in the momentum as the holiday... Analysts at Needham think momentum in the space is building.

They see federal programs and a pending bill in Congress as pathways to more funding for the sector. Shares of Rigetti Computing (NASDAQ: RGTI) traded nearly 10% higher, as of 10:49 a.m. ET today, after a Wall Street analyst raised his price target on the stock and reiterated a buy rating on the name. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

Needham analyst Quinn Bolton increased his price target on Rigetti by $3 to $18 per share, implying about 15% upside from current levels. Bolton believes there is momentum in the quantum computing sector. He is specifically watching the Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmark Initiative (QBI) and a pending bill in Congress called the Department of Energy Quantum Leadership Act. Rigetti announced that it has secured a multimillion-dollar contract with the Air Force to help develop quantum technology. Although the contract sparked investor enthusiasm, Rigetti's CEO made it clear that this is an advanced research program. Shares of Rigetti Computing (NASDAQ: RGTI) are rising on Friday, up 15.4% as of 2:59 p.m.

ET. The jump comes as the S&P 500 and the Nasdaq Composite gained 0.3% and 0.4%, respectively. The quantum computing stock continues to ride momentum from a federal contract win announced yesterday. 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 »

Rigetti Computing announced a new $5.8 million deal today. It wasn't the only deal in the sector moving quantum computing stocks. Rigetti Computing (NASDAQ: RGTI) stock soared Thursday morning after the company announced a new deal. The news sent Rigetti shares to an all-time high. Shares of the developer and builder of quantum computing systems were up by 14.1% near the session high, as of 11:53 a.m. ET.

Rigetti announced today that it was awarded a new three-year contract worth $5.8 million. It wasn't the only deal in the quantum computing space that has the stock and its peers moving higher today. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

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The rise comes as the S&P 500 (SNPINDEX: ^GSPC) was flat and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 0.2%. Rigetti and other quantum stocks saw a boost after Microsoft's earnings call, in which the tech giant's CEO called out quantum computing as "the next big accelerator" in cloud computing. Rigetti Computing, Inc. (RGTI Quick QuoteRGTI - Free Report) has recently been on Zacks.com's list ...

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