Fintel reports that on August 11, 2023, Benchmark upgraded their outlook for Rigetti Computing (NASDAQ:RGTI) from Hold to Buy.
Analyst Price Forecast Suggests 37.80% Downside
As of August 2, 2023, the average one-year price target for Rigetti Computing is 1.02. The forecasts range from a low of 1.01 to a high of $1.05. The average price target represents a decrease of 37.80% from its latest reported closing price of 1.64.
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The projected annual revenue for Rigetti Computing is 26MM, an increase of 79.56%. The projected annual non-GAAP EPS is -0.52.
What is the Fund Sentiment?
There are 147 funds or institutions reporting positions in Rigetti Computing. This is a decrease of 11 owner(s) or 6.96% in the last quarter. Average portfolio weight of all funds dedicated to RGTI is 0.13%, a decrease of 28.56%. Total shares owned by institutions decreased in the last three months by 5.86% to 48,724K shares. The put/call ratio of RGTI is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
Deer Management Co. holds 21,582K shares representing 16.62% ownership of the company. No change in the last quarter.
EDBI Pte holds 4,285K shares representing 3.30% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,947K shares representing 2.27% ownership of the company. No change in the last quarter.
Penserra Capital Management holds 1,944K shares representing 1.50% ownership of the company. In it’s prior filing, the firm reported owning 1,509K shares, representing an increase of 22.39%. The firm increased its portfolio allocation in RGTI by 113.86% over the last quarter.
IWM – iShares Russell 2000 ETF holds 1,564K shares representing 1.20% ownership of the company. In it’s prior filing, the firm reported owning 1,437K shares, representing an increase of 8.15%. The firm increased its portfolio allocation in RGTI by 12.84% over the last quarter.
This article originally appeared on Fintel
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