Rigetti Computing (NASDAQ:RGTI) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald initiated coverage on shares of Rigetti Computing (NASDAQ:RGTIGet Free Report) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $15.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 13.56% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of Rigetti Computing in a research report on Thursday, March 6th. Needham & Company LLC cut their price objective on Rigetti Computing from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Finally, Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of Rigetti Computing in a research note on Thursday, May 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.20.

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Rigetti Computing Price Performance

RGTI opened at $13.21 on Wednesday. Rigetti Computing has a fifty-two week low of $0.66 and a fifty-two week high of $21.42. The business has a 50-day moving average of $11.44 and a 200-day moving average of $10.98. The company has a market capitalization of $3.83 billion, a PE ratio of -18.87 and a beta of 1.43.

Hedge Funds Weigh In On Rigetti Computing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC bought a new position in Rigetti Computing during the fourth quarter worth $25,000. GAMMA Investing LLC increased its holdings in shares of Rigetti Computing by 1,813.0% during the 1st quarter. GAMMA Investing LLC now owns 3,233 shares of the company’s stock worth $26,000 after purchasing an additional 3,064 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Rigetti Computing during the 4th quarter worth about $28,000. Center for Financial Planning Inc. bought a new position in shares of Rigetti Computing during the 1st quarter worth about $30,000. Finally, Quarry LP bought a new position in Rigetti Computing during the first quarter valued at about $31,000. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Company Profile

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Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.

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Analyst Recommendations for Rigetti Computing (NASDAQ:RGTI)

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