Rigetti Computing (NASDAQ:RGTI) Stock Price Down 1.7% - What's Next?

Key Points

• Price action: Rigetti fell 1.7% to $15.41 on Thursday with 23.7M shares traded (about 22% below average); the stock sits below its 50‑day ($19.11) and 200‑day ($25.89) moving averages and has a market cap of about $5.12 billion.
• Analyst views: Several firms cut price targets (e.g., Needham to $31, Benchmark to $35) and a few downgraded ratings, but the consensus remains a "Moderate Buy" with a consensus target of $32.70 (8 Buy, 3 Hold, 1 Sell).
• Fundamentals and insider activity: Rigetti beat EPS estimates (-$0.03 vs. -$0.05) but reported revenue down 17.9% YoY to $1.87M and an extreme negative net margin, while insiders (including the CFO and CTO) recently sold shares, leaving insiders with about 1.9% ownership.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s stock price fell 1.7% during trading on Thursday . The company traded as low as $14.73 and last traded at $15.41. 23,723,899 shares traded hands during trading, a decline of 22% from the average session volume of 30,446,311 shares. The stock had previously closed at $15.67.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Needham & Company LLC decreased their price objective on Rigetti Computing from $51.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Benchmark reduced their price target on Rigetti Computing from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. TD Cowen downgraded Rigetti Computing from a "buy" rating to a "hold" rating in a research report on Thursday, February 12th. Wall Street Zen lowered Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Finally, Mizuho reduced their target price on Rigetti Computing from $50.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.70.

Rigetti Computing Stock Performance

The stock has a fifty day simple moving average of $19.11 and a two-hundred day simple moving average of $25.89. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -22.66 and a beta of 1.71.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.87 million for the quarter, compared to analyst estimates of $2.33 million. The business's revenue was down 17.9% on a year-over-year basis. Research analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $74,810.40. Following the transaction, the chief financial officer owned 175,609 shares in the company, valued at $3,076,669.68. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $643,316.88. Following the transaction, the chief technology officer directly owned 651,914 shares in the company, valued at approximately $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. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors have recently made changes to their positions in RGTI. Heritage Wealth Advisors increased its position in 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 in the last quarter. Larson Financial Group LLC increased its holdings in shares of Rigetti Computing by 138.4% during the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company's stock valued at $27,000 after acquiring an additional 707 shares in the last quarter. EFG International AG acquired a new position in shares of Rigetti Computing during the fourth quarter worth approximately $28,000. Tsfg LLC lifted its holdings in shares of Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company's stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Rigetti Computing by 180.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company's stock valued at $30,000 after purchasing an additional 858 shares during the period. Institutional investors and hedge funds own 35.38% of the company's stock.

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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