Rigetti Computing (NASDAQ:RGTI) Shares Up 4.6% - Time to Buy?

Key Points

• Rigetti Computing shares rose 4.6% on Thursday, trading as high as $19.83 on heavier-than-normal volume, suggesting renewed investor interest in the stock.
• Wall Street sentiment remains mostly bullish, with analysts including Needham and Mizuho reiterating positive views and Mizuho lifting its price target to $27. The consensus rating is a Moderate Buy, with an average target of $29.18.
• The company is still unprofitable despite revenue growth: its latest quarter beat EPS and revenue estimates, and revenue jumped 198.9% year over year, but Rigetti continues to post losses and faces questions about valuation relative to its small revenue base.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s share price shot up 4.6% during trading on Thursday . The company traded as high as $19.83 and last traded at $19.27. 33,651,986 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 30,025,715 shares. The stock had previously closed at $18.42.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: Several articles point to improving price action and a possible breakout setup, with Rigetti reclaiming key moving averages and showing bullish technical momentum. Rigetti Computing (RGTI) Price Forecast: Quantum Stock Near Critical Breakout Level
• Positive Sentiment: Rigetti’s Q1 results and peer comparisons are helping sentiment, as the company is being discussed alongside other leading quantum names in a growing industry. How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
• Positive Sentiment: Needham reiterated a Buy rating, and Mizuho raised its price target to $27, reinforcing the view that analysts still see upside despite volatility. Rigetti Computing Given Buy Rating at Needham & Company LLC
• Positive Sentiment: Mizuho’s higher target also suggests Wall Street sees room for further gains if execution continues to improve. Rigetti Computing Given New $27.00 Price Target at Mizuho
• Neutral Sentiment: Northland cut its FY2026 EPS estimate slightly to a loss of $0.14 from $0.13, signaling ongoing losses but not a major change in outlook. How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
• Neutral Sentiment: Some coverage says Rigetti remains more of a “hold” because commercial adoption is still early, which tempers the bullish narrative. RGTI Hits Technical Milestones Amid Early Demand: Time to Buy or Hold?
• Negative Sentiment: One article highlights that Rigetti’s valuation remains high relative to its current revenue base, which may keep some investors cautious. Rigetti Has a $6 Billion Market Cap and 7 Million in Revenue. Here Are the Two Stocks Worth Owning Instead
• Negative Sentiment: Another report says Rigetti sold off after earnings as investors remained focused on whether quantum sales growth can accelerate enough to justify the stock’s rally. Why Rigetti Computing Stock Is Tanking

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RGTI shares. B. Riley Financial upgraded Rigetti Computing from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research note on Thursday, January 22nd. Royal Bank Of Canada cut Rigetti Computing to a "hold" rating in a research note on Thursday, January 22nd. Benchmark reduced their price objective on Rigetti Computing from $35.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, March 20th. 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. Finally, Wedbush raised their price objective on Rigetti Computing from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.18.

Rigetti Computing Price Performance

The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -22.15 and a beta of 1.79. The firm has a fifty day moving average of $16.52 and a 200 day moving average of $21.78.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.Rigetti Computing's revenue for the quarter was up 198.9% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. Research analysts predict that Rigetti Computing, Inc. will post -0.16 EPS for the current year.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 36,719 shares of the firm's stock in a transaction that occurred 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 sale, the chief technology officer directly owned 651,914 shares of the company's stock, valued at approximately $11,421,533.28. This trade represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Rigetti Computing

A number of institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC boosted its stake in shares of Rigetti Computing by 26.1% in the third quarter. Rothschild Investment LLC now owns 1,665 shares of the company's stock worth $50,000 after acquiring an additional 345 shares during the last quarter. Prospera Financial Services Inc boosted its stake 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 acquiring an additional 419 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Rigetti Computing by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock worth $831,000 after buying an additional 535 shares in the last quarter. MAI Capital Management lifted its position in 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 buying an additional 566 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in Rigetti Computing by 10.2% during the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company's stock worth $147,000 after buying an additional 615 shares in 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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