Rigetti Computing (NASDAQ:RGTI) Given New $35.00 Price Target at Benchmark

Key Points

• Benchmark cut its price target to $35 (from $40) while retaining a "buy" rating, implying roughly a 117% upside from the recent share price; MarketBeat's consensus remains a "Moderate Buy" with a $32.70 target (8 Buys, 3 Holds, 1 Sell).
• Rigetti's Q4 results showed a slight EPS beat (‑$0.03 vs. est. ‑$0.05) but a revenue miss of $1.87M vs. $2.33M (down ~18% YoY), which, along with widened operating losses (~$22.6M) and higher opex, pushed the stock down to $16.11.
• Offsetting the near‑term concerns, the company cited technology milestones and order momentum (≈$8.4M order from India's C‑DAC plus other on‑premises and Japan orders) and finished the year with about $589.8M in cash and equivalents to fund R&D and deliveries.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) had its price target decreased by research analysts at Benchmark from $40.00 to $35.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price objective suggests a potential upside of 117.26% from the company's previous close.

RGTI has been the topic of several other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rigetti Computing in a report on Monday, December 29th. Rosenblatt Securities restated a "buy" rating and issued a $40.00 price target on shares of Rigetti Computing in a research report on Thursday. Royal Bank Of Canada lowered shares of Rigetti Computing to a "hold" rating in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Finally, Williams Trading set a $40.00 target price on shares of Rigetti Computing in a research report on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.70.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock traded down $1.65 on Thursday, hitting $16.11. 27,925,818 shares of the company traded hands, compared to its average volume of 31,413,896. The stock has a market capitalization of $5.32 billion, a P/E ratio of -12.39 and a beta of 1.71. Rigetti Computing has a 52 week low of $6.86 and a 52 week high of $58.15. The business has a 50-day simple moving average of $20.49 and a 200 day simple moving average of $25.81.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company had revenue of $1.87 million for the quarter, compared to the consensus estimate of $2.33 million. The firm's quarterly revenue was down 17.9% on a year-over-year basis. Research analysts expect that Rigetti Computing will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Rigetti Computing

Several hedge funds and other institutional investors have recently modified their holdings of RGTI. Rothschild Investment LLC grew its position in Rigetti Computing by 26.1% in the 3rd quarter. Rothschild Investment LLC now owns 1,665 shares of the company's stock valued at $50,000 after acquiring an additional 345 shares during the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of Rigetti Computing by 1.7% during the third quarter. Trust Co. of Toledo NA OH now owns 21,178 shares of the company's stock valued at $631,000 after purchasing an additional 357 shares during the period. Prospera Financial Services Inc grew its holdings in shares of Rigetti Computing by 1.0% in the third quarter. Prospera Financial Services Inc now owns 41,789 shares of the company's stock worth $1,245,000 after purchasing an additional 419 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Rigetti Computing by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock worth $831,000 after purchasing an additional 535 shares during the last quarter. Finally, MAI Capital Management increased its stake 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 buying an additional 566 shares during the period. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti continues to report material technology milestones — including two‑qubit gate fidelity as high as 99.9% and progress toward a 108‑qubit chiplet system — supporting its long‑term competitiveness in superconducting quantum hardware. Rigetti Computing Reports Fourth Quarter and Full-Year 2025 Financial Results
• Positive Sentiment: Order momentum: the company disclosed an ≈$8.4M purchase order from India’s C‑DAC and earlier Novera on‑premises orders (≈$5.7M total), plus a Japan QPU order — concrete revenue opportunities that could drive near‑term shipments. Rigetti Computing, Inc. Reports Fourth Quarter and Full-Year 2025 Financial Results
• Positive Sentiment: Balance sheet cushioning — cash, cash equivalents and available‑for‑sale investments totaled ~$589.8M at year‑end, giving the company runway to invest in R&D and deliver announced systems. Rigetti Computing Reports Fourth Quarter and Full-Year 2025 Financial Results
• Neutral Sentiment: Mixed GAAP/non‑GAAP results: EPS beat consensus slightly (Q4 GAAP loss per share $(0.06) / non‑GAAP $(0.03)), showing a narrower per‑share loss versus a year ago despite weak revenue. Rigetti Computing, Inc. (RGTI) Reports Q4 Loss, Lags Revenue Estimates
• Neutral Sentiment: Analyst landscape: several firms maintain buy/outperform views and high price targets (Rosenblatt, Mizuho, Needham), though some targets were trimmed — a signal that bullish convictions remain but expectations are being re‑shaped. Benzinga
• Negative Sentiment: Revenue miss and declining sales: Q4 revenue came in at ~$1.9M (below estimates ~ $2.3M) and was down ~18% year‑over‑year — the primary driver of the negative market reaction. Rigetti Computing shares slump on Q4 revenue miss
• Negative Sentiment: Wider near‑term operating losses and higher opex: Q4 operating loss widened (≈$22.6M) as R&D and SG&A rose, compressing margins and increasing the cash burn profile investors fret about. Rigetti Computing Stock Falls After Earnings. The Quantum Pure Play Faces Key Challenges.
• Negative Sentiment: Market reaction and outlook concerns: headlines note shares slid after earnings and some commentary that Wall Street is "digesting" a heavier near‑term spending cadence and slower revenue ramp, which pressured the stock despite technical/strategic positives. Rigetti Computing slides as Wall Street digests Q4 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.

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