Rigetti Computing ( (RGTI) ) has fallen by -11.42%. Read on to learn why.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Rigetti Computing has experienced a notable stock price decline of 11.42% over the past week, despite receiving positive analyst ratings. Analysts from B.Riley Financial and Cantor Fitzgerald have maintained a ‘Buy’ rating with price targets of $15.00, suggesting potential upside. However, the company’s recent financial performance, including missing revenue estimates for Q1 2025, has contributed to the stock’s downward movement. The company reported a quarterly revenue of $1.5 million, falling short of expectations by over $1 million.
The decline in Rigetti’s stock price comes amid mixed market sentiments and increased insider selling activity. The company’s CTO, David Rivas, recently sold a significant number of shares, adding to the negative sentiment. Despite these challenges, Rigetti continues to make strides in quantum computing technology, launching advanced systems like the Ankaa-3 and Novera. These developments highlight the company’s commitment to innovation and its potential to capitalize on the growing interest in quantum computing.
Looking forward, Rigetti’s strategic initiatives and technological advancements could position it well in the evolving quantum computing sector. Analysts remain optimistic, with a consensus ‘Strong Buy’ rating and a price target suggesting further upside. As the company focuses on building scalable quantum systems, it remains a key player in this transformative industry, offering potential opportunities for investors interested in cutting-edge technology.