At the time of writing, Rigetti Computing Inc [RGTI] stock is trading at $1.13, up 2.73%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The RGTI shares have gain 4.63% over the last week, with a monthly amount drifted -33.14%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Rigetti Computing Inc [NASDAQ: RGTI] stock has seen the most recent analyst activity on March 01, 2024, when Alliance Global Partners initiated its Buy rating and assigned the stock a price target of $3.50. Previously, The Benchmark Company upgraded its rating to Buy on August 11, 2023, and kept the price target unchanged to $4. On November 10, 2022, downgrade downgraded it’s rating to Hold. Deutsche Bank downgraded its rating to a Hold and decreased its price target to $2 on November 10, 2022. Deutsche Bank initiated its recommendation with a Buy and recommended $10 as its price target on August 09, 2022. Needham started tracking with a Buy rating for this stock on June 08, 2022, and assigned it a price target of $11. In a note dated May 27, 2022, Cowen initiated an Outperform rating.
For the past year, the stock price of Rigetti Computing Inc fluctuated between $0.36 and $3.43. Currently, Wall Street analysts expect the stock to reach $4 within the next 12 months. Rigetti Computing Inc [NASDAQ: RGTI] shares were valued at $1.13 at the most recent close of the market. An investor can expect a potential return of 253.98% based on the average RGTI price forecast.
Analyzing the RGTI fundamentals
According to Rigetti Computing Inc [NASDAQ:RGTI], the company’s sales were 12.01M for trailing twelve months, which represents an -44.29% plunge. Gross Profit Margin for this corporation currently stands at 0.65% with Operating Profit Margin at -5.94%, Pretax Profit Margin comes in at -6.25%, and Net Profit Margin reading is -6.49%. To continue investigating profitability, this company’s Return on Assets is posted at -0.49, Equity is -0.66 and Total Capital is -0.54. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.22.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1.0733 points at the first support level, and at 1.0167 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.1933, and for the 2nd resistance point, it is at 1.2567.
Ratios To Look Out For
It is important to note that Rigetti Computing Inc [NASDAQ:RGTI] has a current ratio of 3.71. Also, the Quick Ratio is 3.71, while the Cash Ratio stands at 0.74. Considering the valuation of this stock, the price to sales ratio is 14.88, the price to book ratio is 1.52.
Transactions by insiders
Recent insider trading involved Danis Richard, GENERAL COUNSEL & CORP. SEC., that happened on Mar 18 ’24 when 46326.0 shares were sold. CHIEF TECHNOLOGY OFFICER, Rivas David completed a deal on Mar 18 ’24 to sell 9273.0 shares. Meanwhile, Director Fitzgerald Alissa sold 34747.0 shares on Mar 01 ’24.
