Wall Street Zen Downgrades Rigetti Computing (NASDAQ:RGTI) to Sell

Rigetti Computing (NASDAQ:RGTI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

RGTI has been the subject of several other reports. Mizuho decreased their price objective on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Jefferies Financial Group restated a “hold” rating and set a $18.00 price target on shares of Rigetti Computing in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Rigetti Computing in a research report on Tuesday, May 12th. Finally, Benchmark assumed coverage on Rigetti Computing in a research note on Monday, July 27th. They issued a “buy” rating and a $25.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

Rigetti Computing Stock Performance

Shares of RGTI stock opened at $17.94 on Friday. The stock’s 50 day simple moving average is $18.28 and its 200 day simple moving average is $18.01. Rigetti Computing has a twelve month low of $12.53 and a twelve month high of $58.15. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of -19.93 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Rigetti Computing had a negative return on equity of 17.82% and a negative net margin of 2,189.54%.The firm had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $5.09 million. On average, analysts forecast that Rigetti Computing will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total value of $84,501.90. Following the completion of the sale, the chief financial officer owned 171,927 shares in the company, valued at approximately $3,945,724.65. This trade represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Rivas sold 499,328 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares of the company’s stock, valued at approximately $8,279,003. The trade was a 60.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 728,901 shares of company stock worth $17,546,343 in the last ninety days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Rigetti Computing

Several large investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors grew its holdings in shares of Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC lifted its position in Rigetti Computing by 138.4% in the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after purchasing an additional 707 shares during the period. PeakShares LLC bought a new position in Rigetti Computing in the first quarter worth $28,000. EFG International AG acquired a new stake in Rigetti Computing during the fourth quarter worth $28,000. Finally, Tsfg LLC boosted its stake in Rigetti Computing by 320.5% during the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock worth $29,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

More Rigetti Computing News

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

• Positive Sentiment: Commercial momentum is improving. Second-quarter revenue rose 185.3% year over year to approximately $5.14 million, slightly exceeding consensus expectations. Wedbush said shipments of Rigetti’s Novera quantum systems are driving a more commercial revenue mix, while other coverage highlighted major quantum-computing orders. Rigetti Computing Q2 Shows Commercial Mix Inflection Rigetti Stock Rises as Major Quantum Orders Fuel Growth
• Positive Sentiment: Analyst support added to the bullish case. Rosenblatt Securities reaffirmed its “buy” rating and maintained a $40 price target, implying substantial upside from the stock’s recent level. Broader investor interest in quantum-computing stocks is also being supported by expectations for progress toward a potential “quantum advantage” milestone in 2026. Rosenblatt Rating Update Quantum Computing Stocks With Analyst Upside
• Positive Sentiment: Rigetti reported technology and strategic progress. The company cited improving quantum performance, continued development of its technology roadmap, partnerships including Hewlett Packard Enterprise, and potential U.S. government research support of up to $100 million. It ended June with approximately $541.3 million in cash and no debt, providing financial flexibility. Rigetti Computing Reports Second Quarter Results

About Rigetti Computing

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.