Here is some positive news for Rigetti Computing (RGTI):
- Reaffirmed Buy Rating and Price Objective: Benchmark reiterated their buy rating on RGTI with a $2.50 price objective, indicating confidence in the company's potential1.
- Growth in QPU System Sales: Rigetti is expanding its QPU customer base and has secured a five-year contract with the Air Force Research Lab, which is expected to drive revenue growth2.
- Analyst Expectations: Analysts have a unanimous buy consensus rating for RGTI, with an average price target of $3, suggesting significant upside potential2.
- Performance and Fundamentals: Rigetti's stock has returned +91.6% over the past month, outperforming the Zacks S&P 500 composite3. Despite past losses, the company is focusing on cost reduction and margin improvement2.
- Innovation and Development: Rigetti's advancements in quantum processor performance and system fidelity are expected to enhance its capabilities and attract more partners and customers4.
In conclusion, Rigetti Computing is experiencing positive momentum due to a combination of analyst support, growth in sales, and innovative developments in the quantum computing industry13.