Cantor Fitzgerald Sticks to Their Buy Rating for Rigetti Computing (RGTI)
Cantor Fitzgerald analyst reiterated a Buy rating on Rigetti Computing yesterday and set a price target of $30.00. The company’s shares closed yesterday at $14.53.
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In addition to Cantor Fitzgerald, Rigetti Computing also received a Buy from Mizuho Securities’s Vijay Rakesh in a report issued on April 7. However, yesterday, TipRanks – Google reiterated a Hold rating on Rigetti Computing (NASDAQ: RGTI).
Based on Rigetti Computing’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.87 million and a GAAP net loss of $18.21 million. In comparison, last year the company earned a revenue of $2.27 million and had a GAAP net loss of $152.96 million
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RGTI in relation to earlier this year. Last month, Jeffrey Bertelsen, the CFO of RGTI sold 4,270.00 shares for a total of $74,767.70.
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