Why Did Rigetti Computing Analyst Cut His Price Forecast?

Rigetti Computing, Inc. RGTI shares are surging on Wednesday, reversing from yesterday’s decline.This week, the company reported first-quarter revenue of $1.47 million, missing analyst estimates of$2.55 million and earnings of 13 cents per share, beating estimates for a loss of 6 cents per share.Needham analyst N. Quinn Bolton lowered the price forecast from $17.00 to$15.00, while keeping a Buy rating.The analyst writes that revenue fell short of their expectations, pending reauthorization of the DOE Quan ...