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Let's take a look at what these Wall Street heavyweights have to say about Rigetti Computing, Inc. (RGTI) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Of the four recommendations that derive the current ABR, three are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 75% and 25% of all recommendations. Check price target & stock forecast for Rigetti Computing here>>> Do you wonder why? As a result of the vested interest of brokera ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Rigetti Computing, Inc. (RGTI) . Rigetti Computing currently has an averag ...

BERKELEY, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ: RGTI), a pioneer in hybrid quantum-classical computing systems, today announced the Company is set to join the Russell 3000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th. The annual Russell US Indexes reconstitution captures the 4,00 ...

BERKELEY, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ: RGTI), a pioneer in hybrid quantum-classical computing systems, today announced the Company is set to join the Russell 3000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th. The annual Russell US Indexes reconstitution captures the 4,00 ...

John D Founded in 2013, Rigetti Computing (NASDAQ:RGTI) is a company developing full-stack quantum supercomputer services available through its cloud-based platform, Forest. Having gone public through a SPAC transaction in 2021, share performance has been disappointing so far. Trading around $9 price level back then, the stock has lost -89% of its value since. Currently, RGTI is trading at $1 price level. Nonetheless, RGTI has gained some momentum YTD, with the stock up about 16% YTD so far. I rate the stoc ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Rigetti Computing, Inc. (RGTI) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Rigetti Computing currently has an average bro ...

Financial Data and Key Metrics Changes - Revenues in Q1 2024 were $3.1 million, up 39% from $2.2 million in Q1 2023 [15] - Gross margins in Q1 2024 were 49%, down from 77% in Q1 2023 [15] - Operating loss for Q1 2024 was $16.6 million, improved from an operating loss of $22 million in Q1 2023 [18] - Net loss for Q1 2024 was $20.8 million, or $0.14 per share, compared to a net loss of $23.4 million, or $0.19 per share in Q1 2023 [18] - Cash, cash equivalents, and available for sale investments totaled $102.8 million as of March 31, 2024, compared to $99.9 million as of December 31, 2023 [19] Business Line Data and Key Metrics Changes - The company is growing its non-premises quantum processor unit (QPU) sales, with the delivery of a Novera QPU to Horizon Quantum Computing in April 2024 [9] - The Novera QPU Partnership Program was launched to support on-premises quantum ecosystems, aiming to create a network of quantum computing hardware, software, and service providers [10][11] Market Data and Key Metrics Changes - The company is currently in discussions with approximately 10 to 15 customers for quantum computing systems, primarily for research purposes [4] - The company has established a presence in Singapore with the sale of the Novera QPU to Horizon Quantum Computing, marking its first QPU installation in the region [9] Company Strategy and Development Direction - The company aims to achieve over 99% 2-qubit gate fidelity on its anticipated 84-qubit device by the end of the year, with plans to develop a 336-qubit system thereafter [8] - The company emphasizes an open modular approach to quantum computing, allowing for faster innovation by partnering with various companies specializing in different aspects of quantum technology [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving key milestones in their technology roadmap, including improvements in qubit count and fidelity [2] - The company believes that existing cash balances will be sufficient to meet operating cash needs until mid-Q4 2025 based on current business plans [20] Other Important Information - The company anticipates revenue recognition for the Novera sale in Q2 2024, depending on the terms of the contracts [38] - The company has raised $32.9 million from the sale of shares under its common stock purchase agreement, including $23.9 million raised in Q1 2024 [19] Q&A Session Summary Question: Details on the Novera sale to Horizon Quantum Computing - The sale was made to a Singapore-based company funded by the government, aiming to establish a hardware testbed for quantum computing [24] Question: Details on the Novera QPU Partner Program - The program aims to enable high-performing on-premises quantum computing by creating an ecosystem of partners, with no obligation for partners to purchase the Novera QPU [26] Question: Pipeline expectations in the U.S. and UK - The company feels optimistic about its early sales to national labs and expects additional sales opportunities in the U.S. and UK due to its established presence [30] Question: Revenue recognition timing for the Horizon sale - Revenue for the Horizon sale is expected to be recognized in Q2 2024 [38] Question: Long-term revenue opportunities versus near-term hardware sales - Management believes there is no trade-off between current hardware sales and future revenue opportunities from quantum computing services, viewing current sales as foundational for future applications [42]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) dur ...

Exhibit 99.1 Rigetti Computing Reports First Quarter 2024 Financial Results BERKELEY, Calif., May 9, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Technology Roadmap and QPU Performance Partnership program launches to support on-premises quantum ecosystem In April 2024 Rigetti launched th ...