From Nasdaq: 2024-11-26 12:56:00

1. Rigetti Computing (RGTI) shares have outperformed the Computer & Technology sector and peers like Salesforce, IBM, and Alphabet, appreciating 96.9% year-to-date.
2. Rigetti’s advancements in quantum computing technology, introducing new modular systems and achieving high chip fidelity, position it for growth in the quantum computing market.
3. Rigetti’s expanding clientele, partnerships with Riverlane and NQCC, and collaborations with NVIDIA and Quantum Machines contribute to its success in the quantum computing industry.
4. Challenges in the macroeconomic environment and intense competition may impact RGTI’s financial performance, with estimates showing a decline in revenues and a loss of 8 cents per share.
5. Despite the growth potential, RGTI’s stock is not cheap and is trading at a higher Price/Sales ratio compared to the sector, indicating a Hold rating for investors.
6. Zacks Investment Research recommends exploring 5 stocks set to double, including RGTI, which has surged 97% year-to-date, offering potential opportunities for investors.

Read more at Nasdaq: RGTI Surges 97% YTD: Should You Buy, Hold or Sell the Stock?