A share price of Rigetti Computing Inc [RGTI] is currently trading at $0.85, up 8.04%. An important factor to consider is whether the stock is rising or falling in short-term value. The RGTI shares have gain 7.24% over the last week, with a monthly amount drifted -20.95%, 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 July 25, 2024, when B. Riley Securities initiated its Buy rating and assigned the stock a price target of $3. Previously, Alliance Global Partners started tracking the stock with Buy rating on March 01, 2024, and set its price target to $3.50. On August 11, 2023, upgrade upgraded it’s rating to Buy but maintained its price target of $4 on the stock. The Benchmark Company downgraded its rating to a Hold. Deutsche Bank downgraded its rating to a Hold and reduced its price target to $2 on November 10, 2022. Deutsche Bank started tracking with a Buy rating for this stock on August 09, 2022, and assigned it a price target of $10. In a note dated June 08, 2022, Needham initiated an Buy rating and provided a target price of $11 on this stock.
Rigetti Computing Inc experienced fluctuations in its stock price throughout the past year between $0.75 and $2.86. Currently, Wall Street analysts expect the stock to reach $3 within the next 12 months. Rigetti Computing Inc [NASDAQ: RGTI] shares were valued at $0.85 at the most recent close of the market. An investor can expect a potential return of 252.94% based on the average RGTI price forecast.
Analyzing the RGTI fundamentals
Trailing Twelve Months sales for Rigetti Computing Inc [NASDAQ:RGTI] were 12.62M which represents -7.24% decline. Gross Profit Margin for this corporation currently stands at 0.28% with Operating Profit Margin at -5.29%, Pretax Profit Margin comes in at -5.39%, and Net Profit Margin reading is -5.39%. To continue investigating profitability, this company’s Return on Assets is posted at -0.42, Equity is -0.59 and Total Capital is -0.49. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.15.
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 0.8087 points at the first support level, and at 0.7636 for the second support level. However, for the 1st resistance point, the stock is sitting at 0.9077, and for the 2nd resistance point, it is at 0.9616.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Rigetti Computing Inc [NASDAQ:RGTI] is 4.29. On the other hand, the Quick Ratio is 4.29, and the Cash Ratio is 0.81. Considering the valuation of this stock, the price to sales ratio is 11.63, the price to book ratio is 1.26.
Transactions by insiders
Recent insider trading involved Fitzgerald Alissa, Director, that happened on Aug 12 ’24 when 20000.0 shares were sold. Director, Fitzgerald Alissa completed a deal on Jul 15 ’24 to sell 20000.0 shares. Meanwhile, Director Fitzgerald Alissa sold 20000.0 shares on Jun 24 ’24.
