Northland Securities Forecasts RGTI FY2026 Earnings

Key Points

• Northland Securities initiated coverage with a Market Perform rating and a $20 price target, forecasting FY2026 EPS of ($0.13) (vs. consensus ($0.17)) and FY2027 EPS of ($0.12).
• Rigetti reported Q4 EPS of ($0.03), beating estimates, but revenue fell to $1.87 million (down 17.9% YoY) amid widening losses and negative operating cash flow, highlighting ongoing profitability risks.
• Commercial and technical progress — notably general availability of the Cepheus‑1‑108Q on QCS/Amazon Braket and reported 99.9% two‑qubit fidelity — could drive adoption, yet analyst views remain mixed with a consensus "Moderate Buy" and a $30.64 price target while insiders have reduced holdings.

Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) - Investment analysts at Northland Securities issued their FY2026 earnings per share estimates for shares of Rigetti Computing in a research note issued on Monday, April 20th. Northland Securities analyst N. Chokshi anticipates that the company will post earnings per share of ($0.13) for the year. 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 ($0.17) per share. Northland Securities also issued estimates for Rigetti Computing's FY2027 earnings at ($0.12) EPS.

RGTI has been the topic of a number of other research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Rigetti Computing in a report on Monday, December 29th. TD Cowen cut shares of Rigetti Computing from a "buy" rating to a "hold" rating in a report on Thursday, February 12th. Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of Rigetti Computing in a report on Thursday, March 5th. Benchmark dropped their target price on shares of Rigetti Computing from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, March 20th. Finally, Needham & Company LLC dropped their target price on shares of Rigetti Computing from $51.00 to $31.00 and set a "buy" rating on the stock in a report 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.64.

Rigetti Computing Stock Performance

Shares of NASDAQ:RGTI opened at $18.25 on Wednesday. Rigetti Computing has a 52-week low of $8.13 and a 52-week high of $58.15. The firm has a market capitalization of $6.06 billion, a P/E ratio of -26.84 and a beta of 1.82. The stock has a 50 day moving average price of $16.11 and a 200-day moving average price of $24.52.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Wednesday, March 4th. 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 return on equity of 14.91% and a negative net margin of 3,111.92%.The firm had revenue of $1.87 million during the quarter, compared to analyst estimates of $2.33 million. The company's quarterly revenue was down 17.9% compared to the same quarter last year.

Institutional Trading of Rigetti Computing

Large investors have recently modified their holdings of the company. Danske Bank A S bought a new stake in shares of Rigetti Computing in the third quarter worth $30,000. Parallel Advisors LLC grew its holdings in shares of Rigetti Computing by 403.2% in the third 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 period. Clearstead Advisors LLC bought a new stake in shares of Rigetti Computing in the third quarter worth $35,000. Heritage Wealth Advisors grew its holdings in shares of Rigetti Computing by 454.3% in the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company's stock worth $26,000 after acquiring an additional 954 shares during the period. Finally, Larson Financial Group LLC grew its holdings 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 period. Institutional investors own 35.38% of the company's stock.

Insiders Place Their Bets

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

More Rigetti Computing News

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

• Positive Sentiment: Northland Securities initiated coverage with a "Market Perform" rating and a $20 price target (implies ~9–10% upside vs. recent levels); the report also models slightly smaller FY26/FY27 losses than consensus, which supports near-term share momentum. Northland Securities Begins Coverage on Rigetti Computing NASDAQ: RGTI
• Positive Sentiment: Rigetti announced general availability of its 108‑qubit system Cepheus‑1‑108Q via its Quantum Cloud Services and Amazon Braket — a clear commercial milestone that can drive customer adoption and revenue growth in cloud quantum services. Rigetti Computing (RGTI): Among the Best Up and Coming Semiconductor Stocks to Buy
• Positive Sentiment: Technical performance headlines — Rigetti reports up to 99.9% two‑qubit gate fidelity at 28 ns and is advancing a chiplet approach — strengthen the company's competitive positioning and long‑term scaling narrative. Can Rigetti's 99.9% Fidelity Enable Large-Scale Quantum Systems?
• Positive Sentiment: Momentum in the quantum/AI trade (NVIDIA-driven headlines) and positive coverage in sector lists are drawing fresh attention and volatility into Rigetti shares, supporting further upside potential. NVIDIA Sparks April Rally in 2 Quantum Stocks, 40%+ Upside Still Left
• Neutral Sentiment: Industry commentary comparing peer rallies (e.g., D‑Wave) highlights sector rotation but does not directly change Rigetti's fundamentals. What's Behind D-Wave's Spring Rally, and Will It Continue? (RGTI)
• Negative Sentiment: Fundamentals remain a constraint: Q4 revenue declined year‑over‑year and operating losses widened as OpEx rose — Rigetti reported negative operating cash flow even though it has a sizable cash runway. These remind investors that profitability and revenue scale are still uncertain. Rigetti's Hidden Edge The Market Ignores

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.

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