Northland Securities Estimates RGTI FY2026 Earnings

Key Points

• Northland Securities trimmed its FY2026 EPS estimate for Rigetti Computing to ($0.14) from ($0.13) and kept a Market Perform rating with a $20 price target. Its forecast remains slightly above the broader consensus estimate of ($0.16) per share.
• Rigetti recently beat Q1 expectations, reporting a loss of ($0.04) per share versus the expected ($0.05) and revenue of $4.4 million versus $4.09 million expected. Revenue jumped 198.9% year over year, though the company still posted very weak margins and returns.
• Analyst sentiment is mixed but generally constructive, with multiple firms maintaining Buy/Outperform views even as some cut targets or downgraded the stock. The shares traded at $18.42 and have an average analyst target of $29.18.

Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) - Equities researchers at Northland Securities cut their FY2026 EPS estimates for Rigetti Computing in a research note issued to investors on Tuesday, May 12th. Northland Securities analyst N. Chokshi now anticipates that the company will post earnings of ($0.14) per share for the year, down from their prior forecast of ($0.13). Northland Securities has a "Market Perform" rating and a $20.00 price objective on the stock. The consensus estimate for Rigetti Computing's current full-year earnings is ($0.16) per share.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The company had revenue of $4.40 million during the quarter, compared to analysts' expectations of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The business's revenue was up 198.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS.

A number of other research analysts have also recently commented on RGTI. Mizuho cut their price target on shares of Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday. Wedbush upped their price objective on Rigetti Computing from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. Royal Bank Of Canada cut Rigetti Computing to a "hold" rating in a report on Thursday, January 22nd. TD Cowen downgraded Rigetti Computing from a "buy" rating to a "hold" rating in a research report on Thursday, February 12th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.18.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $18.42 on Thursday. The firm has a market cap of $6.12 billion, a P/E ratio of -21.17 and a beta of 1.79. The firm's 50-day simple moving average is $16.52 and its 200-day simple moving average is $21.78. Rigetti Computing has a twelve month low of $10.18 and a twelve month high of $58.15.

Insider Activity

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

Institutional Investors Weigh In On Rigetti Computing

Hedge funds and other institutional investors have recently bought and sold shares of the business. Danske Bank A S bought a new position in shares of Rigetti Computing in the third quarter valued at about $30,000. Parallel Advisors LLC grew its holdings in Rigetti Computing by 403.2% during the 3rd quarter. Parallel Advisors LLC now owns 1,087 shares of the company's stock worth $32,000 after acquiring an additional 871 shares during the last quarter. Clearstead Advisors LLC bought a new stake in Rigetti Computing during the 3rd quarter worth about $35,000. Heritage Wealth Advisors increased its position in Rigetti Computing by 454.3% in the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company's stock valued at $26,000 after acquiring an additional 954 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of 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 acquiring an additional 707 shares during the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

Rigetti Computing News Roundup

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

• Positive Sentiment: Rigetti topped Q1 estimates, with revenue rising 198.9% year over year to $4.4 million and the loss narrowing to $0.04 per share, reinforcing the view that the company is making operational progress. Rigetti Computing tops Q1 earnings estimates as loss narrows
• Positive Sentiment: Rigetti’s revenue beat and expanding gross margin are being cited as evidence that adoption of its quantum systems and cloud platform is gradually improving. Rigetti Q1 Earnings & Revenues Beat Estimates, Gross Margin Up
• Positive Sentiment: Momentum-focused articles say RGTI has reclaimed key moving averages and is approaching a breakout level, which is attracting traders looking for further upside. Rigetti Computing (RGTI) Price Forecast: Quantum Stock Near Critical Breakout Level
• Positive Sentiment: Needham reiterated a Buy rating, and Mizuho maintained an Outperform rating, though it cut its target to $27, signaling continued analyst support for the stock. Rigetti Computing Given Buy Rating at Needham & Company LLC

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.