Rigetti Computing (NASDAQ:RGTI) Given New $15.00 Price Target at Needham & Company LLC

Rigetti Computing (NASDAQ:RGTI) had its target price cut by equities research analysts at Needham & Company LLC from $31.00 to $15.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC‘s price target would suggest a potential upside of 23.46% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. B. Riley Financial reduced their price objective on shares of Rigetti Computing from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings upgraded shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Wedbush started coverage on shares of Rigetti Computing in a report on Monday, August 3rd. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.00.

Rigetti Computing Stock Down 6.4%

NASDAQ RGTI opened at $12.15 on Wednesday. The company has a market cap of $4.06 billion, a PE ratio of -13.50 and a beta of 2.15. Rigetti Computing has a 52 week low of $9.19 and a 52 week high of $32.18. The firm’s 50-day simple moving average is $13.84 and its two-hundred day simple moving average is $16.78.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Tuesday, November 10th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $1.41 million for the quarter, compared to the consensus estimate of $3.51 million. Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%. Rigetti Computing’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, equities research analysts anticipate that Rigetti Computing will post -0.26 EPS for the current year.

Insider Buying and Selling

In other news, CEO Subodh K. Kulkarni sold 120,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $15.68, for a total value of $1,881,600.00. Following the sale, the chief executive officer directly owned 140,411 shares of the company’s stock, valued at approximately $2,201,644.48. This represents a 46.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the transaction, the chief financial officer owned 168,067 shares of the company’s stock, valued at $2,521,005. This trade represents a 12.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 163,689 shares of company stock worth $2,570,890 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Rigetti Computing

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Compass Financial Management LLC purchased a new stake in Rigetti Computing in the 2nd quarter worth approximately $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rigetti Computing during the 3rd quarter valued at $30,000. PeakShares LLC purchased a new position in shares of Rigetti Computing during the 1st quarter valued at $28,000. Signaturefd LLC grew its position in shares of Rigetti Computing by 141.6% during the 3rd quarter. Signaturefd LLC now owns 3,247 shares of the company’s stock valued at $51,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Jacobi Capital Management LLC bought a new position in shares of Rigetti Computing in the third quarter worth $53,000. 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 reported 99.5% median two-qubit fidelity on its 108-qubit system, a technical milestone supporting its chiplet-based quantum processor roadmap. The company also reported approximately $497 million in cash and investments. Rigetti Computing Reports Third Quarter 2026 Financial Results
• Negative Sentiment: Quarterly revenue was $1.41 million, down 27.5% year over year and well below analyst expectations of roughly $3.5 million. The reported $0.06-per-share loss also missed the consensus estimate of a $0.05 loss, reinforcing concerns about weak near-term commercial traction. Rigetti Computing falls on revenue miss and weaker-than-expected guidance
• Negative Sentiment: Management signaled elevated capital expenditures will continue through 2027, rather than returning to 2025 levels. With commercialization estimated to be about three years away, ongoing investment could mean continued cash burn before meaningful sales growth. Rigetti Computing Stock Sinks Nearly 7% After Hours as CFO Signals Another Year of Heavy Spending

Rigetti Computing Company Profile

Rigetti Computing develops superconducting quantum computers and related software. Its work spans the design and manufacture of quantum processors, as well as systems that connect quantum processors with conventional computing infrastructure. The company offers access to its quantum computers and development tools through its Quantum Cloud Services platform. It also provides quantum hardware for on-premises use, serving customers and research organizations exploring quantum applications. Founded in 2013 by physicist Chad Rigetti, the company is based in Berkeley, California.