Santa Came Early for These 10 Double-Digit Gainers

7. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing saw its share prices jump by 13.13 percent on Monday to close at $26.88 apiece, mimicking a broader market rally, supported by the quarterly and year-end window-dressing.

The practice is common among institutional investors, who tweak their portfolios ahead of the reporting periods by piling into strong performers and cutting exposure to laggards to present a more robust-looking portfolio to clients.

Rigetti Computing Inc. (NASDAQ:RGTI) climbed alongside its peers, namely Quantum Computing Inc., D-Wave Quantum, and IonQ, amid the broader optimism for the sector.

In other news, Rigetti Computing Inc. (NASDAQ:RGTI) last week received an “outperform” rating and a $35 price target from Wedbush. Even with its three consecutive days of gains, the price target still marked a 30.2 percent upside potential from its latest closing price.

According to Wedbush, the coverage reflected the quantum computing firm’s decades of experience in the industry’s research and development, positioning itself as a leader in the superconducting qubit technology.

Additionally, it said that Rigetti Computing Inc. (NASDAQ:RGTI) is expected to benefit from an expected growth in the quantum hardware addressable market in the long run.