Rigetti Computing (NASDAQ:RGTI) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Rigetti Computing from a “sell” to a “hold” rating, adding to a mixed but generally constructive analyst backdrop for the quantum computing company.
• Other analysts remain mostly bullish: Rigetti has multiple Buy ratings, a consensus Moderate Buy rating, and an average price target of $32, though some firms have lower targets or sell ratings.
• The stock remains volatile, with shares opening at $14.11 and trading far below the 12-month high of $58.15; recent insider sales and ongoing losses highlight the risks despite strong revenue growth.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

RGTI has been the topic of several other reports. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of Rigetti Computing in a research report on Thursday, June 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. Northland Securities initiated coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They set a "market perform" rating and a $20.00 target price for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Rigetti Computing in a report on Tuesday, June 2nd. Finally, Mizuho reduced their price objective on Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $14.11 on Monday. The stock has a market cap of $4.69 billion, a P/E ratio of -16.22 and a beta of 1.95. Rigetti Computing has a twelve month low of $12.53 and a twelve month high of $58.15. The stock has a 50 day moving average of $20.08 and a two-hundred day moving average of $18.96.

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 analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $4.40 million for the quarter, compared to analyst estimates 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 company's revenue for the quarter was up 198.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. As a group, research analysts predict that Rigetti Computing will post -0.22 earnings per share for the current year.

Insider Transactions at Rigetti Computing

In related news, CTO David Rivas sold 499,328 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the completion of the transaction, the chief technology officer directly owned 325,945 shares of the company's stock, valued at $8,279,003. This represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ray O. Johnson sold 84,944 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the completion of the sale, the director owned 95,537 shares of the company's stock, valued at approximately $1,963,285.35. The trade was a 47.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 728,901 shares of company stock worth $17,546,343. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Rigetti Computing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Heritage Wealth Advisors lifted its holdings in shares of 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 buying an additional 954 shares during the period. Larson Financial Group LLC grew its holdings in Rigetti Computing by 138.4% during 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. PeakShares LLC purchased a new position in Rigetti Computing in the first quarter worth $28,000. EFG International AG purchased a new position in Rigetti Computing in the fourth quarter worth $28,000. Finally, Tsfg LLC lifted its holdings in Rigetti Computing by 320.5% in the fourth 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 and hedge funds own 35.38% of the company's stock.

Key Rigetti Computing News

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

• Positive Sentiment: Multiple recent reports highlighted Rigetti as one of several quantum-computing stocks with significant brokerage upside in the second half of 2026, as investors focus on U.S. policy support and commercialization opportunities for the sector. 5 Quantum Computing Stocks Set for Huge Price Upside in 2H 2026
• Positive Sentiment: Investors are also reacting to bullish commentary that Rigetti could benefit from “sovereign quantum hardware” demand, with its U.S.-based Fab-1 facility and government-linked research potentially becoming more important if domestic quantum capability is treated as strategic infrastructure. Rigetti Could Be a Huge Winner in Sovereign Quantum Hardware
• Neutral Sentiment: Another article noted that broker recommendations remain bullish on paper, with Rigetti’s average brokerage recommendation equivalent to a Buy, though the report questioned how useful that signal is for investors. Brokers Suggest Investing in Rigetti Computing (RGTI): Read This Before Placing a Bet
• Negative Sentiment: Recent coverage also emphasized that Rigetti fell more than the broader market in the prior session, reinforcing concerns that the stock remains highly volatile and vulnerable to profit-taking in a weak tape. Why Rigetti Computing, Inc. (RGTI) Dipped More Than Broader Market Today

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.

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