Rigetti Computing (RGTI) Stock Price, News & Analysis

Company Overview

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. It also provides quantum cloud services that provides various range of support in programming, public or private clouds integration, and connectivity, as well as quantum operating system software that supports both public and private cloud architectures. In addition, the company offers professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.

Key Stats

• Today's Range: $10.34 to $12.28
• 50-Day Range: $0.81 to $11.13
• 52-Week Range: $0.66 to $12.75
• Volume: 108.38 million shs
• Average Volume: 19.95 million shs
• Market Capitalization: $2.18 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $4.80
• Consensus Rating: Buy

Rigetti Computing Stock Analysis - MarketRank™

Rigetti Computing scored higher than 15% of companies evaluated by MarketBeat, and ranked 594th out of 655 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.5 / 5
• Analyst Rating: Buy

Consensus Rating

Rigetti Computing has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 5 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Rigetti Computing has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Rigetti Computing are expected to grow in the coming year, from ($0.34) to ($0.28) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Rigetti Computing is -29.87, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Rigetti Computing is -29.87, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Rigetti Computing has a P/B Ratio of 15.13. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

17.16% of the float of Rigetti Computing has been sold short.

Short Interest Ratio / Days to Cover

Rigetti Computing has a short interest ratio ("days to cover") of 1.2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Rigetti Computing has recently increased by 33.37%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Rigetti Computing does not currently pay a dividend.

Dividend Growth

Rigetti Computing does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

17.16% of the float of Rigetti Computing has been sold short.

Short Interest Ratio / Days to Cover

Rigetti Computing has a short interest ratio ("days to cover") of 1.2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Rigetti Computing has recently increased by 33.37%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 3.0 / 5
• News Sentiment: 0.36

News Sentiment

Rigetti Computing has a news sentiment score of 0.36. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.57 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 33 news articles for Rigetti Computing this week, compared to 4 articles on an average week.

Search Interest

344 people have searched for RGTI on MarketBeat in the last 30 days. This is an increase of 942% compared to the previous 30 days.

MarketBeat Follows

329 people have added Rigetti Computing to their MarketBeat watchlist in the last 30 days. This is an increase of 1,728% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Rigetti Computing insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $5,489,354.00 in company stock.

Percentage Held by Insiders

Only 2.81% of the stock of Rigetti Computing is held by insiders.

Percentage Held by Institutions

Only 35.38% of the stock of Rigetti Computing is held by institutions.

RGTI Stock Analysis - Frequently Asked Questions

How have RGTI shares performed this year?

Rigetti Computing's stock was trading at $0.9849 at the beginning of the year. Since then, RGTI stock has increased by 1,052.4% and is now trading at $11.35.
View the best growth stocks for 2024 here.

How were Rigetti Computing's earnings last quarter?

Rigetti Computing, Inc. (NASDAQ:RGTI) posted its quarterly earnings data on Thursday, August, 8th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business earned $3.09 million during the quarter, compared to the consensus estimate of $3.53 million. Rigetti Computing had a negative trailing twelve-month return on equity of 51.56% and a negative net margin of 509.58%.

Who are Rigetti Computing's major shareholders?

Rigetti Computing's top institutional shareholders include American Assets Investment Management LLC (4.23%), Penserra Capital Management LLC (2.38%), Geode Capital Management LLC (1.89%) and State Street Corp (1.42%). Insiders that own company stock include Bessemer Venture Partners X L, Chad Rigetti, David Rivas, Michael S Clifton, Richard Danis, Mike Harburn, Helene Gail Sandford and Alissa Fitzgerald.
View institutional ownership trends.

How do I buy shares of Rigetti Computing?

Shares of RGTI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Rigetti Computing own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Rigetti Computing investors own include Scilex (SCLX), Pfizer (PFE), Barrick Gold (GOLD), BioNTech (BNTX), Butterfly Network (BFLY), Nikola (NKLA) and Pangaea Logistics Solutions (PANL).

Company Calendar

• Last Earnings: 8/08/2024
• Today: 12/24/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Custom computer programming services
• Sub-Industry: Trading
• Current Symbol: NASDAQ:RGTI
• CUSIP: N/A
• CIK: 1838359
• Web: www.offerpad.com
• Phone: 510-210-5550
• Fax: N/A
• Employees: 160
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $4.80
• High Stock Price Target: $12.00
• Low Stock Price Target: $2.00
• Potential Upside/Downside: -56.3%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.38)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-75,110,000.00
• Net Margins: -509.58%
• Pretax Margin: -509.58%
• Return on Equity: -51.56%
• Return on Assets: -37.78%

Debt

• Debt-to-Equity Ratio: 0.02
• Current Ratio: 4.84
• Quick Ratio: 4.84

Sales & Book Value

• Annual Sales: $11.89 million
• Price / Sales: 177.55
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $0.75 per share
• Price / Book: 14.64

Miscellaneous

• Outstanding Shares: 192,296,000
• Free Float: 186,892,000
• Market Cap: $2.11 billion
• Optionable: Optionable
• Beta: 2.72