Rigetti Computing's stock surged 18% on buy recommendation and higher price target

From Yahoo Finance: 2025-05-14 19:56:00

Ten individual stocks surged by double digits on Wednesday, outperforming Wall Street indices due to US-China truce. Nasdaq grew 0.72%, S&P 500 up 0.10%, and Dow Jones declined by 0.21%. We list Wednesday’s top 10 best-performing stocks and reasons behind their gains, considering stocks with $2B market cap and $5M trading volume.

Rigetti Computing’s share prices soared by 18% to $11.64 after receiving a buy recommendation and a higher price target of $14 from Craig-Hallum. Q1 earnings saw revenue fall by 52% to $1.47M, operating loss expand by 30% to $21.6M, and total operating expenses grow by 22% to $22.07M compared to the same period last year.

Rigetti Computing secured US and UK government projects earlier this year, solidifying its position in the quantum computing sector. Ranked 2nd on the list of firms surging by double digits. Despite potential investment in RGTI, AI stocks hold greater promise for higher returns in a shorter timeframe. Check out our report on the cheapest AI stock with substantial gains.



Read more at Yahoo Finance: Why Rigetti Computing, Inc. (RGTI) Skyrocketed On Wednesday