Rigetti Computing (RGTI) Soars 26.46% on Strong Earnings

Rigetti Computing (RGTI) shares surged 26.46% today, reaching their highest level since February 2025 with an intraday gain of 31.75%.

The strategy of buying RGTI shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 4.61% annualized gain. However, the overall performance was somewhat volatile, with a maximum drawdown of -26.77% during the period. This suggests that while there was some growth, the strategy was not without its risks.

Rigetti Computing reported a positive net income of US$43 million for the first quarter of 2025. This significant financial result has likely boosted investor confidence and contributed to the recent surge in the company's stock price. The strong earnings report indicates that Rigetti Computing is on a solid financial footing, which is encouraging for investors.

There has been a notable increase in bullish options activity for Rigetti Computing, with a large number of call options being traded. This surge in call options suggests that market participants are optimistic about the company's future prospects and expect the stock price to rise further. The bullish sentiment in the options market is a positive indicator for the stock's performance.

Analysts have released ratings with an average target price of $14.5, reflecting optimism about Rigetti Computing's future stock performance. One analyst has even adjusted their rating to Buy with a price target of $14, indicating a strong belief in the company's potential for growth. These positive analyst ratings and price targets are likely contributing to the upward momentum in Rigetti Computing's stock price.