Rgti price target

The price target for Rigetti Computing (NASDAQ:RGTI) has been a subject of fluctuating estimates, primarily due to the analysis and projections from various equities research firms. Here's a detailed breakdown:

1. Recent Price Target Adjustments:
   • Needham & Company LLC, in their report dated August 9, 2024, lowered the price target from $3.00 to $2.00. This adjustment reflects a more conservative outlook on the stock's immediate-term potential.
   • However, the average price target set by four analysts as of November 14, 2024, is $2.88, with a range from $2.00 to $3.50. This suggests that while there is a lower price target, the overall consensus among analysts indicates a higher potential for the stock's value to increase.
   • It's important to note that the average target predicts an increase of 85.81% from the current stock price of $1.55. This indicates a positive outlook among analysts, despite the recent price target adjustments.
2. Analyst Ratings and Predictions:
   • The analysts' consensus rating for Rigetti Computing is "Strong Buy," indicating a general positive sentiment towards the stock. This is supported by the fact that all four analysts have maintained a "Strong Buy" rating, with no "Sell" or "Strong Sell" ratings.
   • The average analyst rating as represented on a scale of 1.00 to 5.00 is not available, but the fact that all analysts have a "Buy" rating or higher suggests a generally optimistic view of the stock's future performance.
3. Market Performance and Financials:
   • Rigetti Computing's stock has experienced a significant drop of -1.97% on November 12, 2024, closing at $1.52. Despite this, the stock has seen a 76.92% increase in value over the past month.
   • The company's financials show a decrease in revenue and an increase in cost ratio, which could be factors influencing the price target adjustments.
4. Institutional Activity:
   • Institutional investors have been adding to or reducing their stakes in Rigetti Computing. For example, SG Americas Securities LLC purchased a new position in the second quarter. Such activity can influence market sentiment and potentially the stock price.

In conclusion, while there have been recent adjustments to the price target for Rigetti Computing, the overall analyst consensus remains positive, with a "Strong Buy" rating and an average price target that suggests a significant potential increase from the current price. The market performance and financials of the company, along with institutional activity, provide a complex picture that analysts are currently navigating in their price target projections.