Rigetti Computing (NASDAQ:RGTI) Price Target Cut to $27.00 by Analysts at Mizuho

Key Points

• Mizuho cut its price target on Rigetti Computing from $33 to $27, while keeping an outperform rating. The new target still implies about 31.6% upside from the current share price.
• Rigetti’s latest quarter showed better-than-expected results, with EPS of -$0.04 versus estimates for -$0.05 and revenue of $4.4 million topping consensus. Revenue also rose sharply year over year.
• Analyst sentiment remains broadly constructive, with the stock holding a Moderate Buy consensus and an average target price of $29.18. However, insiders recently sold shares, and the company is still dealing with ongoing losses and negative margins.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) had its price target lowered by Mizuho from $33.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price objective suggests a potential upside of 31.64% from the company's current price.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Rigetti Computing in a research note on Thursday, March 5th. Needham & Company LLC reiterated a "buy" rating and set a $31.00 target price on shares of Rigetti Computing in a research report on Tuesday. Royal Bank Of Canada lowered shares of Rigetti Computing to a "hold" rating in a report on Thursday, January 22nd. Wedbush raised their price target on shares of Rigetti Computing from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. Finally, Northland Securities began coverage on Rigetti Computing in a research note on Monday, April 20th. They set a "market perform" rating and a $20.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.18.

Rigetti Computing Price Performance

Shares of RGTI opened at $20.51 on Tuesday. Rigetti Computing has a fifty-two week low of $9.85 and a fifty-two week high of $58.15. The firm has a market capitalization of $6.81 billion, a PE ratio of -30.16 and a beta of 1.79. The company's 50-day moving average is $16.47 and its 200-day moving average is $22.05.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 14.91% and a negative net margin of 3,111.92%.The company had revenue of $4.40 million during the quarter, compared to analysts' expectations of $4.09 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business's revenue was up 198.9% on a year-over-year basis. Analysts predict that Rigetti Computing will post -0.16 earnings per share for the current fiscal year.

Insider Activity at Rigetti Computing

In related news, CTO David Rivas sold 36,719 shares of Rigetti Computing stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. This trade represents a 5.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business's stock in a transaction dated 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 trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RGTI. Heritage Wealth Advisors lifted its position in shares of Rigetti Computing by 454.3% during the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company's stock worth $26,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Rigetti Computing by 138.4% in the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company's stock worth $27,000 after buying an additional 707 shares during the period. PeakShares LLC purchased a new position in shares of Rigetti Computing during the first quarter valued at $28,000. EFG International AG acquired a new position in Rigetti Computing in the 4th quarter worth approximately $28,000. Finally, Tsfg LLC lifted its stake in Rigetti Computing by 320.5% during the 4th quarter. Tsfg LLC now owns 1,312 shares of the company's stock valued at $29,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 35.38% of the company's stock.

Rigetti Computing News Summary

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

• Positive Sentiment: Rigetti reported Q1 2026 adjusted EPS of -$0.04, beating expectations of -$0.05, and revenue of $4.4 million, above the $4.09 million consensus estimate. Revenue was also up sharply year over year, helped by QPU sales and growing customer adoption. Article Title
• Positive Sentiment: Needham & Company reaffirmed its Buy rating on Rigetti Computing and set a $31 price target, implying meaningful upside from recent trading levels. Article Title
• Positive Sentiment: Investor attention around the stock remained elevated, with unusual call option activity suggesting traders are positioning for more upside after the earnings release. Article Title
• Neutral Sentiment: Rigetti highlighted progress in its quantum roadmap, including the launch of its 108-qubit system and emphasis on customer traction and balance-sheet strength, which supports the long-term story but does not remove near-term uncertainty. Article Title
• Negative Sentiment: Despite the revenue beat, investors remain focused on Rigetti’s ongoing losses and lack of clear near-term profitability, which appears to be weighing on the stock after the report. Article Title

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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