Rigetti Computing (NASDAQ:RGTI) Shares Down 3.5% - Here's Why

Key Points

• Rigetti shares fell 3.5% in mid-day trading to about $16.99, with ~23.8M shares traded (24% below average) and the 50‑day/200‑day moving averages at $20.14 and $25.92 respectively.
• Q4 results showed EPS of ($0.03) beating estimates by $0.02 but revenue missed at $1.87M (vs. $2.33M), with revenue down 17.9% YoY and continued deep losses (net margin -3,111.92%, negative ROE).
• Analyst coverage is mixed—8 Buys, 3 Holds, 1 Sell—with a consensus target of $32.70, amid recent target revisions ranging up to the low $40s and some downgrades.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s share price was down 3.5% during mid-day trading on Tuesday . The stock traded as low as $16.96 and last traded at $16.99. Approximately 23,808,847 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 31,358,730 shares. The stock had previously closed at $17.60.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RGTI. Wall Street Zen cut shares of Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Wedbush upped their price objective on shares of Rigetti Computing from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, January 21st. TD Cowen cut shares of Rigetti Computing from a "buy" rating to a "hold" rating in a research note on Thursday, February 12th. Mizuho decreased their target price on Rigetti Computing from $50.00 to $43.00 and set an "outperform" rating on the stock in a research report on Thursday, March 5th. Finally, Rosenblatt Securities restated a "buy" rating and set a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $32.70.

Rigetti Computing Trading Down 3.5%

The stock has a market cap of $5.61 billion, a P/E ratio of -24.98 and a beta of 1.72. The company's fifty day simple moving average is $20.14 and its 200-day simple moving average is $25.92.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business had revenue of $1.87 million for the quarter, compared to analyst estimates of $2.33 million. Rigetti Computing's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, analysts expect that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment LLC grew its stake in shares of Rigetti Computing by 26.1% during the third quarter. Rothschild Investment LLC now owns 1,665 shares of the company's stock valued at $50,000 after purchasing an additional 345 shares during the last quarter. Trust Co. of Toledo NA OH lifted its holdings in Rigetti Computing by 1.7% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 21,178 shares of the company's stock worth $631,000 after buying an additional 357 shares in the last quarter. Prospera Financial Services Inc boosted its position in Rigetti Computing by 1.0% in the 3rd quarter. Prospera Financial Services Inc now owns 41,789 shares of the company's stock valued at $1,245,000 after buying an additional 419 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Rigetti Computing by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock valued at $831,000 after buying an additional 535 shares during the period. Finally, MAI Capital Management raised its position in shares of Rigetti Computing by 17.7% during the third quarter. MAI Capital Management now owns 3,763 shares of the company's stock worth $112,000 after acquiring an additional 566 shares during the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

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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