FY2027 Earnings Forecast for RGTI Issued By B. Riley

Key Points

• B. Riley projects FY2027 EPS of ($0.05) for Rigetti, maintains a "Neutral" rating and a $42 price target, well above the MarketBeat consensus target of $26.43 while consensus current-year EPS is ($0.34).
• Rigetti reported Q‑results of ($0.03) EPS, beating estimates by $0.02, but revenue fell 18.1% year‑over‑year to $1.95 million and the company showed extremely negative margins (net margin -4,741.49%).
• Company insiders sold significant stock recently (director sold 62,000 shares, CTO sold 44,355), with total insider sales of 454,204 shares worth about $10.3 million in the last quarter; institutional ownership is ~35.38%.

Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) - Stock analysts at B. Riley issued their FY2027 earnings per share (EPS) estimates for shares of Rigetti Computing in a note issued to investors on Tuesday, November 11th. B. Riley analyst C. Ellis anticipates that the company will post earnings of ($0.05) per share for the year. B. Riley currently has a "Neutral" rating and a $42.00 target price on the stock. The consensus estimate for Rigetti Computing's current full-year earnings is ($0.34) per share.

A number of other research analysts have also recently commented on RGTI. Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a report on Tuesday. Williams Trading set a $40.00 price objective on shares of Rigetti Computing in a research note on Tuesday. Benchmark lowered their price target on shares of Rigetti Computing from $50.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday. Industrial Alliance Securities set a $18.00 price objective on Rigetti Computing in a research note on Wednesday, July 16th. Finally, Needham & Company LLC lifted their target price on Rigetti Computing from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rigetti Computing presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.43.

Rigetti Computing Stock Down 1.6%

RGTI stock traded down $0.49 during trading on Wednesday, reaching $30.91. The company's stock had a trading volume of 4,413,963 shares, compared to its average volume of 73,845,180. The company's fifty day moving average is $33.80 and its 200-day moving average is $20.48. Rigetti Computing has a 1 year low of $1.28 and a 1 year high of $58.15. The company has a market capitalization of $10.02 billion, a P/E ratio of -23.91 and a beta of 1.64.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 23.39%. The company had revenue of $1.95 million during the quarter, compared to analyst estimates of $2.17 million. The firm's quarterly revenue was down 18.1% compared to the same quarter last year.

Insider Buying and Selling at Rigetti Computing

In related news, Director Helene Gail Sandford sold 62,000 shares of Rigetti Computing stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $44.89, for a total value of $2,783,180.00. Following the completion of the sale, the director directly owned 120,371 shares in the company, valued at $5,403,454.19. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO David Rivas sold 44,355 shares of Rigetti Computing stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $14.85, for a total transaction of $658,671.75. Following the transaction, the chief technology officer directly owned 730,568 shares in the company, valued at approximately $10,848,934.80. The trade was a 5.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 454,204 shares of company stock valued at $10,300,876.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently bought and sold shares of RGTI. Handelsbanken Fonder AB grew its stake in Rigetti Computing by 18.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 96,200 shares of the company's stock worth $2,866,000 after buying an additional 15,000 shares during the last quarter. Xponance Inc. boosted its holdings in Rigetti Computing by 13.1% in the third quarter. Xponance Inc. now owns 24,854 shares of the company's stock valued at $740,000 after purchasing an additional 2,873 shares during the last quarter. MAI Capital Management boosted its position in Rigetti Computing by 17.7% in the 3rd quarter. MAI Capital Management now owns 3,763 shares of the company's stock worth $112,000 after purchasing an additional 566 shares in the last quarter. Rollins Financial Advisors LLC purchased a new position in Rigetti Computing in the third quarter valued at $410,000. Finally, Thoroughbred Financial Services LLC raised its holdings in Rigetti Computing by 35.7% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 118,639 shares of the company's stock worth $3,534,000 after purchasing an additional 31,201 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.

Rigetti Computing Company Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.

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