Intel stock extends gains after report of possible U.S. government stake
Investing.com - Cantor Fitzgerald raised its price target on Rigetti Computing Inc. (NASDAQ:RGTI) to $18.00 from $15.00 on Wednesday, while maintaining an Overweight rating on the quantum computing company. The stock, currently trading at $16.15 with a market capitalization of $5.2 billion, has delivered an impressive 1,706% return over the past year.
The price target increase represents a potential 11.1x enterprise value to sales ratio based on the present value of the firm’s 2035 revenue forecast, up from 10.1x previously.
Cantor Fitzgerald believes Rigetti is in "the very early innings of commercializing its technology" in the quantum computing sector.
The investment firm projects Rigetti can capture 15% of the quantum hardware, software, and services market by 2035, which at a 10% discount rate equates to a revenue present value of $477 million.
This market share projection forms the basis for the increased price target, reflecting Cantor’s confidence in Rigetti’s long-term growth potential in the quantum computing industry.
In other recent news, Rigetti Computing Inc . reported its second-quarter 2025 earnings, revealing a revenue of $1.8 million. This figure fell short of the forecasted $1.87 million, indicating a slight miss in expectations. Additionally, the company reported a loss of $0.05 per share, which did not meet analyst projections. Despite the revenue shortfall, Needham has reiterated its Buy rating on Rigetti Computing with a price target of $18.00. The firm highlighted progress in the company, noting that revenue exceeded its own projections. The quantum computing industry is currently awaiting the reauthorization of the Department of Energy Quantum Leadership Act, which could impact future developments. These recent updates provide investors with insights into Rigetti’s current financial standing and potential future developments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.