Rigetti Computing, Inc. (NASDAQ:RGTI) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Rigetti Computing has a Moderate Buy consensus rating from 13 analysts, with eight buy ratings, four holds, and one sell; the average 12-month price target is about $29.18.
• The company’s recent quarterly results beat expectations, with EPS of -$0.04 versus an expected -$0.05 and revenue of $4.4 million topping estimates, while revenue also jumped 198.9% year over year.
• Investor sentiment got a boost from a U.S. Department of Commerce letter of intent for up to $100 million in CHIPS Act funding, though the deal may include an equity stake that could dilute shareholders.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) has been given an average rating of "Moderate Buy" by the thirteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.1818.

Several research analysts have recently commented on RGTI shares. Benchmark reduced their price target on Rigetti Computing from $35.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, March 20th. TD Cowen lowered Rigetti Computing from a "buy" rating to a "hold" rating in a research report on Thursday, February 12th. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 price target on shares of Rigetti Computing in a research report on Thursday, March 5th. Northland Securities initiated coverage on Rigetti Computing in a research report on Monday, April 20th. They set a "market perform" rating and a $20.00 target price on the stock. Finally, Wall Street Zen raised Rigetti Computing from a "sell" rating to a "hold" rating in a research report on Saturday.

Rigetti Computing Price Performance

Shares of NASDAQ:RGTI opened at $26.42 on Friday. Rigetti Computing has a 1-year low of $10.30 and a 1-year high of $58.15. The business has a fifty day moving average price of $16.82 and a 200-day moving average price of $20.88. The company has a market capitalization of $8.78 billion, a PE ratio of -30.37 and a beta of 1.79.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The business had revenue of $4.40 million for the quarter, compared to analysts' expectations of $4.09 million. During the same period last year, the firm posted ($0.05) earnings per share. The business's revenue for the quarter was up 198.9% on a year-over-year basis. On average, sell-side analysts anticipate that Rigetti Computing will post -0.19 earnings per share for the current fiscal year.

Key Rigetti Computing News

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

• Positive Sentiment: Rigetti announced a letter of intent with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding over three years to accelerate superconducting quantum R&D, giving the company a strong credibility boost and a potential source of non-dilutive-like strategic support for development. Rigetti Signs Letter of Intent with U.S. Government for Quantum Computing Research
• Positive Sentiment: The broader quantum-computing group is surging after Washington’s reported $2 billion push for the sector, lifting Rigetti along with peers like IonQ, D-Wave and Quantum Computing Inc. as investors rotate into the theme. Quantum rally sends Rigetti stock toward key resistance zone
• Positive Sentiment: Media coverage highlights Rigetti as a beneficiary of the government-backed quantum race, which is amplifying momentum and drawing in speculative buyers. Ca$htag$: RGTI Surges as Bulls Pile into Quantum Stocks
• Neutral Sentiment: Some commentary notes Rigetti still faces execution and valuation questions, and a separate headline pointed to concerns about a shelf registration and wider Q1 losses, underscoring that the rally is being driven more by catalysts and sentiment than by near-term fundamentals. Rigetti Computing (RGTI) Is Down 8.3% After Shelf Registration And Q1 Losses Widening Concerns
• Negative Sentiment: The Commerce Department deal contemplates an equity stake for the government, which could dilute existing shareholders if finalized. Rigetti Signs Letter of Intent with U.S. Government for Quantum Computing Research

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 36,719 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at approximately $11,421,533.28. This represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were 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. This represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. 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 made changes to their positions in RGTI. Vanguard Group Inc. increased its position in Rigetti Computing by 12.2% during the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company's stock worth $796,750,000 after purchasing an additional 3,924,171 shares during the period. State Street Corp grew its holdings in shares of Rigetti Computing by 12.0% in the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company's stock worth $104,997,000 after acquiring an additional 946,850 shares during the period. Geode Capital Management LLC grew its holdings in shares of Rigetti Computing by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company's stock worth $174,930,000 after acquiring an additional 196,891 shares during the period. UBS Group AG grew its holdings in shares of Rigetti Computing by 90.9% in the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company's stock worth $91,788,000 after acquiring an additional 1,467,483 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Rigetti Computing by 16.3% in the 3rd quarter. Northern Trust Corp now owns 2,846,095 shares of the company's stock worth $84,785,000 after acquiring an additional 397,905 shares during the period. Institutional investors and hedge funds own 35.38% of the company's stock.

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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