Rigetti Computing (NASDAQ:RGTI) Stock Price Down 7.4% - What's Next?

Key Points

• Rigetti Computing shares fell 7.4% on Friday, trading as low as $17.55 amid heavy volume, as the broader quantum-computing sector sold off and investors took profits.
• Despite the pullback, Rigetti reported a strong quarter with revenue up 198.9% year over year and EPS of -$0.04, which beat estimates by a penny. The company also said analysts still see significant upside, with a consensus Moderate Buy rating and an average price target of $29.18.
• Not all signals were positive: analysts trimmed FY2026 EPS estimates, and bearish commentary warned that revenue is concentrated and meaningful quantum advantage may still be years away. Insider selling by the CFO and CTO also added to investor caution.

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) fell 7.4% on Friday . The company traded as low as $17.55 and last traded at $17.85. 26,915,072 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 29,994,316 shares. The stock had previously closed at $19.27.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti’s Q1 revenue jumped 199% year over year, showing strong demand for its quantum systems and cloud-based platform. Rigetti Q1 Revenue Surge Signals Rising Quantum Demand Trends
• Positive Sentiment: Several recent pieces highlighted bullish technical setup and analyst interest, with some viewing RGTI as a strong or “bullish” name among quantum stocks. Rigetti Computing (RGTI) Price Forecast: Quantum Stock Near Critical Breakout Level
• Neutral Sentiment: Rigetti will participate in a fireside chat at Canaccord Genuity’s Virtual Quantum Symposium next week, which keeps the stock in the spotlight but does not change fundamentals by itself. Rigetti Computing to Participate in Fireside Chat at Canaccord Genuity Virtual Quantum Symposium
• Negative Sentiment: Analysts trimmed FY2026 EPS estimates, signaling that losses may be slightly worse than previously expected. Rigetti Computing stock and analyst estimate update
• Negative Sentiment: Bearish commentary warned that revenue remains highly concentrated and that meaningful quantum advantage may still be at least three years away, raising concerns about execution and the path to sustainable growth. Rigetti: 3 Long Years Ahead
• Negative Sentiment: The broader quantum-computing sector sold off sharply Friday, with Rigetti falling alongside peers as investors took profits and cooled on the group. Quantum Computing Stock Shock: IonQ, Rigetti, D-Wave, and Quantum Computing Inc. Fall 6% to 9%

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RGTI. Needham & Company LLC reaffirmed a "buy" rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday. Northland Securities began coverage on Rigetti Computing in a report on Monday, April 20th. They issued a "market perform" rating and a $20.00 target price on the stock. Benchmark reduced their target price on Rigetti Computing from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, March 20th. Royal Bank Of Canada downgraded Rigetti Computing to a "hold" rating in a report on Thursday, January 22nd. Finally, Wedbush raised their target price on Rigetti Computing from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Rigetti Computing currently has a consensus rating of "Moderate Buy" and an average price target of $29.18.

Rigetti Computing Stock Performance

The company has a market cap of $5.93 billion, a price-to-earnings ratio of -20.52 and a beta of 1.79. The company has a fifty day moving average of $16.57 and a two-hundred day moving average of $21.64.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. During the same quarter last year, the business posted ($0.05) EPS. Rigetti Computing's revenue for the quarter was up 198.9% on a year-over-year basis. Equities analysts expect that Rigetti Computing, Inc. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In related news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the firm's 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 sale, the chief financial officer owned 175,609 shares of the company's stock, valued at $3,076,669.68. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO David Rivas sold 36,719 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were 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 in the company, valued at approximately $11,421,533.28. This trade represents a 5.33% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Rigetti Computing

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Rigetti Computing by 106.2% during the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company's stock worth $1,748,000 after buying an additional 113,644 shares during the period. AQR Capital Management LLC lifted its holdings in Rigetti Computing by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company's stock worth $642,000 after buying an additional 47,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company's stock worth $890,000 after buying an additional 22,770 shares during the period. NewEdge Advisors LLC lifted its holdings in Rigetti Computing by 197.8% during the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company's stock worth $203,000 after buying an additional 16,998 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rigetti Computing during the 1st quarter worth about $3,115,000. 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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