Rigetti UK Limited, a branch of Rigetti Computing (RGTI, Financial), has been selected as a winner in Innovate UK’s Quantum Missions pilot competition. The initiative focuses on enhancing quantum error correction (QEC) abilities in superconducting quantum computers.
The company will spearhead a GBP 3.5 million consortium in collaboration with Riverlane and the National Quantum Computing Centre's (NQCC) Superconducting Circuits Team. The primary goal of this project is to test and advance quantum error correction on Rigetti’s superconducting quantum computer, which is hosted at the NQCC.
These tests are set to push the limits of current metrics and demonstrate the capability for real-time quantum error correction — a crucial step towards achieving universal, fault-tolerant quantum computing. The success of this project could represent significant progress in the field of quantum computing, bringing it closer to practical, error-resistant applications.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Rigetti Computing Inc (RGTI, Financial) is $14.80 with a high estimate of $17.00 and a low estimate of $12.00. The average target implies an upside of 82.49% from the current price of $8.11. More detailed estimate data can be found on the Rigetti Computing Inc (RGTI) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Rigetti Computing Inc's (RGTI, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Rigetti Computing Inc (RGTI, Financial) in one year is $0.92, suggesting a downside of 88.66% from the current price of $8.11. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Rigetti Computing Inc (RGTI) Summary page.
