University of Kwazulu-Natal

Why Rigetti Computing Stock Is Soaring Today The Globe And Mail

Bonisiwe Shabane
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why rigetti computing stock is soaring today the globe and mail

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. A Wall Street firm maintained its buy rating on the stock and raised its price target. This article first appeared on our U.S.

website. Shares of Rigetti Computing (NASDAQ: RGTI) were trading 10% higher as of 3 p.m. ET Monday, after a Wall Street analyst raised his price target on the stock and reiterated a buy rating for the quantum computing company. 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.

An independent research and development (R&D) agency stashed within the U.S. Department of Defense, DARPA was created in response to the launch of Sputnik in 1957 and works to ensure the country is always prepared to “face a strategic technical surprise.” QBI’s goal is to... The initiative is currently in stage A. 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. 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 (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...

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