Stock Track | Rigetti Computing Soars 5.03% Intraday on Q1 Revenue Beat, Wedbush's Bullish Target, and Quantum System Launch
Stock Track
May 14
Rigetti Computing's stock soared 5.03% during intraday trading on Thursday, reflecting strong investor sentiment.
The surge follows the company's reported first-quarter revenue of $4.4 million, which exceeded analyst estimates of $3.97 million. Additionally, Wedbush Securities reiterated its 'Outperform' rating and $40 price target for the stock, citing the commercial launch of Rigetti's Cepheus-108Q quantum system on major cloud platforms as a significant product milestone.
Further supporting the positive momentum is the company's announced plan to invest up to $100 million in the United Kingdom over the coming years, a strategic move to establish a second major operational base.
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