Rigetti Computing, Inc. (NASDAQ:RGTI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $29.1818.

RGTI has been the subject of a number of research reports. Northland Securities initiated coverage on Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price for the company. TD Cowen downgraded Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Mizuho decreased their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Benchmark decreased their target price on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a research note on Thursday, March 5th.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 4,270 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the transaction, the chief financial officer owned 175,609 shares in the company, valued at approximately $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO David Rivas sold 36,719 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at approximately $11,421,533.28. The trade was a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its position in Rigetti Computing by 43.8% during the third quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company’s stock valued at $72,860,000 after acquiring an additional 744,577 shares during the period. Clear Street Group Inc. purchased a new stake in Rigetti Computing during the third quarter valued at about $47,752,000. J. Safra Sarasin Holding AG purchased a new stake in Rigetti Computing during the third quarter valued at about $2,576,000. Federated Hermes Inc. grew its position in Rigetti Computing by 6,219.1% during the third quarter. Federated Hermes Inc. now owns 100,853 shares of the company’s stock valued at $3,004,000 after acquiring an additional 99,257 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its position in Rigetti Computing by 222.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 630,655 shares of the company’s stock valued at $18,787,000 after acquiring an additional 434,989 shares during the period. Institutional investors own 35.38% of the company’s stock.

Key Stories Impacting Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti announced a letter of intent with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding over three years to accelerate superconducting quantum R&D, giving the company a strong credibility boost and a potential source of non-dilutive-like strategic support for development. Rigetti Signs Letter of Intent with U.S. Government for Quantum Computing Research
• Positive Sentiment: The broader quantum-computing group is surging after Washington’s reported $2 billion push for the sector, lifting Rigetti along with peers like IonQ, D-Wave and Quantum Computing Inc. as investors rotate into the theme. Quantum rally sends Rigetti stock toward key resistance zone
• Positive Sentiment: Media coverage highlights Rigetti as a beneficiary of the government-backed quantum race, which is amplifying momentum and drawing in speculative buyers. Ca$htag$: RGTI Surges as Bulls Pile into Quantum Stocks
• Neutral Sentiment: Some commentary notes Rigetti still faces execution and valuation questions, and a separate headline pointed to concerns about a shelf registration and wider Q1 losses, underscoring that the rally is being driven more by catalysts and sentiment than by near-term fundamentals. Rigetti Computing (RGTI) Is Down 8.3% After Shelf Registration And Q1 Losses Widening Concerns
• Negative Sentiment: The Commerce Department deal contemplates an equity stake for the government, which could dilute existing shareholders if finalized. Rigetti Signs Letter of Intent with U.S. Government for Quantum Computing Research

Rigetti Computing Stock Up 19.9%

Shares of Rigetti Computing stock opened at $26.42 on Friday. Rigetti Computing has a fifty-two week low of $10.30 and a fifty-two week high of $58.15. The firm has a market cap of $8.78 billion, a PE ratio of -30.37 and a beta of 1.79. The business’s fifty day moving average is $16.82 and its two-hundred day moving average is $20.88.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The business had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. During the same period last year, the company posted ($0.05) EPS. The business’s quarterly revenue was up 198.9% on a year-over-year basis. Equities research analysts anticipate that Rigetti Computing will post -0.19 EPS for the current year.

Rigetti Computing Company Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.