Rigetti Computing (NASDAQ:RGTI – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03, Zacks reports. Rigetti Computing had a negative return on equity of 59.05% and a negative net margin of 563.97%. The business had revenue of $3.09 million for the quarter, compared to the consensus estimate of $3.53 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share.
Rigetti Computing Price Performance
Shares of RGTI stock traded down $0.04 on Friday, reaching $0.79. The company’s stock had a trading volume of 3,497,220 shares, compared to its average volume of 5,677,746. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 0.06. Rigetti Computing has a 12-month low of $0.75 and a 12-month high of $2.86. The company has a market capitalization of $135.85 million, a P/E ratio of -1.49 and a beta of 2.32. The stock’s 50 day simple moving average is $1.00 and its 200-day simple moving average is $1.26.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. B. Riley assumed coverage on Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock. Benchmark restated a “buy” rating and set a $3.00 target price on shares of Rigetti Computing in a research report on Monday, May 13th. Finally, Needham & Company LLC dropped their target price on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday.
About Rigetti Computing
Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.
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