Rigetti Computing (NASDAQ:RGTI) Shares Up 1.8% - Should You Buy?

Key Points

• Shares rose about 1.8% to $16.91 on Monday on volume roughly 41% below average; the stock trades below its 200‑day moving average ($23.97) and has a market cap of $5.62 billion with a negative P/E.
• Wall Street is mixed but tilted positive — consensus rating is “Moderate Buy” with an average price target of $30.64 (8 Buys, 4 Holds, 1 Sell).
• Latest quarter: Rigetti beat EPS (−$0.03 vs. −$0.05) but revenue fell 17.9% YoY to $1.87M and margins remain deeply negative, while the CFO and CTO recently sold shares.

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) shot up 1.8% during trading on Monday . The company traded as high as $16.95 and last traded at $16.9110. 18,034,139 shares changed hands during trading, a decline of 41% from the average session volume of 30,311,928 shares. The stock had previously closed at $16.61.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RGTI. Wall Street Zen lowered Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Sunday. Weiss Ratings restated a "sell (d-)" rating on shares of Rigetti Computing in a research note on Monday, December 29th. TD Cowen lowered Rigetti Computing from a "buy" rating to a "hold" rating in a research note on Thursday, February 12th. Rosenblatt Securities restated a "buy" rating and issued a $40.00 target price on shares of Rigetti Computing in a research note on Thursday, March 5th. Finally, B. Riley Financial upgraded Rigetti Computing from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.64.

Rigetti Computing Price Performance

The business has a 50 day moving average of $16.20 and a 200 day moving average of $23.97. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -24.87 and a beta of 1.82.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative return on equity of 14.91% and a negative net margin of 3,111.92%.The business had revenue of $1.87 million during the quarter, compared to analyst estimates of $2.33 million. The firm's revenue was down 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Rigetti Computing, Inc. will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $74,810.40. Following the completion of the transaction, the chief financial officer directly owned 175,609 shares in the company, valued at $3,076,669.68. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David Rivas sold 36,719 shares of the stock in a transaction on Tuesday, March 10th. The stock was 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 of the company's stock, valued at $11,421,533.28. This represents a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC grew its holdings 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 worth $50,000 after purchasing an additional 345 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in Rigetti Computing by 1.0% in the third quarter. Prospera Financial Services Inc now owns 41,789 shares of the company's stock valued at $1,245,000 after acquiring an additional 419 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Rigetti Computing by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock valued at $831,000 after acquiring an additional 535 shares during the last quarter. MAI Capital Management boosted its holdings in Rigetti Computing by 17.7% in the third quarter. MAI Capital Management now owns 3,763 shares of the company's stock valued at $112,000 after acquiring an additional 566 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Rigetti Computing by 10.2% in the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company's stock valued at $147,000 after acquiring an additional 615 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.

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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