Rigetti Computing (NASDAQ:RGTI - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03, Zacks reports. The business had revenue of $3.09 million for the quarter, compared to analysts' expectations of $3.53 million. Rigetti Computing had a negative return on equity of 59.05% and a negative net margin of 563.97%. During the same period last year, the firm earned ($0.13) earnings per share.
Rigetti Computing Price Performance
Shares of RGTI traded down $0.04 during mid-day trading on Friday, hitting $0.79. 3,497,220 shares of the stock were exchanged, compared to its average volume of 5,677,746. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.42 and a current ratio of 4.42. The company has a market cap of $135.85 million, a PE ratio of -1.49 and a beta of 2.32. Rigetti Computing has a 52-week low of $0.75 and a 52-week high of $2.86. The firm has a 50-day moving average of $1.00 and a two-hundred day moving average of $1.26.
Analysts Set New Price Targets
Several brokerages recently issued reports on RGTI. Benchmark reissued a "buy" rating and set a $3.00 target price on shares of Rigetti Computing in a research note on Monday, May 13th. B. Riley assumed coverage on shares of Rigetti Computing in a research report on Thursday, July 25th. They set a "buy" rating and a $3.00 price objective on the stock. Finally, Needham & Company LLC dropped their target price on shares of Rigetti Computing from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Friday.
Check Out Our Latest Stock Report on Rigetti Computing
About Rigetti Computing
(
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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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