Rigetti Computing (RGTI) stock jumped 15.4% due to positive outlook on quantum computing.

Rigetti Computing (RGTI) saw a 15.45% jump on Wednesday, closing at $13.08 per share after Cantor Fitzgerald gave an “overweight” rating and a $15 price target on the stock, citing huge growth potential in the quantum computing sector despite being in its early stages. The firm noted the stock’s steep multiple compared to revenue forecasts.

Analysts express bullish sentiment on quantum computing, highlighting Rigetti Computing’s potential despite its lack of profits. While the company has $9 million in annual revenues, its stock trades at a high multiple to near-term revenue or earnings forecasts. Investors are urged to consider other AI stocks with potentially higher returns and lower risk.

Read more at Yahoo Finance: Rigetti Computing (RGTI) Jumps 15.4% on Bullish Quantum Computing Outlook