Rigetti Computing Inc [RGTI] is 48.24% higher this YTD. Is it still time to buy?

Rigetti Computing Inc [NASDAQ: RGTI] slipped around -0.07 points on Monday, while shares priced at $1.46 at the close of the session, down -4.58%. The company report on March 14, 2024 at 4:05 PM that Rigetti Computing Reports Fourth Quarter and Full Year 2023 Results.

Deployed the 84-qubit Ankaa™-2 quantum computer, with a 2.5X improvement in error performance compared to the Company’s previous QPUs and achieved a 98% median 2-qubit fidelity.

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Won competition to develop and deliver a 24-qubit quantum computing system to the UK’s National Quantum Computing Centre (NQCC).

Compared to the average trading volume of 6.80M shares, RGTI reached a trading volume of 6045087 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Rigetti Computing Inc [RGTI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RGTI shares is $3.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RGTI stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Alliance Global Partners have made an estimate for Rigetti Computing Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2024. The new note on the price target was released on August 11, 2023, representing the official price target for Rigetti Computing Inc stock. On November 10, 2022, analysts decreased their price target for RGTI shares from 10 to 2.

The Average True Range (ATR) for Rigetti Computing Inc is set at 0.20, with the Price to Sales ratio for RGTI stock in the period of the last 12 months amounting to 19.23. The Price to Book ratio for the last quarter was 1.96, with the Price to Cash per share for the same quarter was set at 0.63.

How has RGTI stock performed recently?

Rigetti Computing Inc [RGTI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.43. With this latest performance, RGTI shares dropped by -22.34% in over the last four-week period, additionally plugging by 11.45% over the last 6 months – not to mention a rise of 165.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RGTI stock in for the last two-week period is set at 41.37, with the RSI for the last a single of trading hit 33.85, and the three-weeks RSI is set at 45.52 for Rigetti Computing Inc [RGTI]. The present Moving Average for the last 50 days of trading for this stock 1.5420, while it was recorded at 1.5360 for the last single week of trading, and 1.4765 for the last 200 days.

Rigetti Computing Inc [RGTI]: Deeper insight into the fundamentals

Rigetti Computing Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.71 and a Current Ratio set at 3.71.

Earnings analysis for Rigetti Computing Inc [RGTI]

With the latest financial reports released by the company, Rigetti Computing Inc posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -26.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RGTI.

Insider trade positions for Rigetti Computing Inc [RGTI]

The top three institutional holders of RGTI stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in RGTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in RGTI stock with ownership which is approximately 5.8386%.