Rigetti Computing (NASDAQ:RGTI) Stock Price Up 10.5% - What's Next?

Key Points

• Rigetti shares rose 10.5% to $15.64 amid a broader quantum-computing rally, supported by an expanded collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to build a hybrid quantum-classical testbed.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy, with a consensus price target of $32.00; Benchmark initiated coverage with a $25 target, while Needham and Rosenblatt maintain targets of $31 and $40, respectively.
• Investors are awaiting second-quarter results for evidence of Novera sales, Cepheus-1 adoption and improved qubit fidelity. Despite strong revenue growth, Rigetti remains loss-making, generates relatively small pilot- and grant-driven revenue, and has seen notable insider selling.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s stock price was up 10.5% during trading on Monday . The stock traded as high as $16.12 and last traded at $15.64. Approximately 30,302,235 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 34,057,457 shares. The stock had previously closed at $14.15.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti announced an expanded collaboration with Hewlett Packard Enterprise (HPE) and the Pittsburgh Supercomputing Center to build TangleLab, a hybrid quantum-classical supercomputing testbed. Rigetti will supply a 9-qubit Novera system, funded by a $5 million National Science Foundation grant. Construction is expected to begin in September, with operations targeted for 2027. The project could strengthen Rigetti’s credibility in quantum-HPC integration and lead to additional institutional or government opportunities. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Benchmark initiated or reiterated “Buy” ratings across several quantum companies, including RGTI, arguing that expanding enterprise adoption could support multiple hardware platforms rather than producing a single winner. The analyst estimated the quantum industry could generate approximately $1.5 billion in revenue in 2026, improving sentiment toward the group. Quantum’s Tipping Point: Why IonQ, D-Wave, and Rigetti Stocks Are Buys
• Positive Sentiment: A larger industry rally followed D-Wave’s expanded agreement with AT&T to deploy quantum systems in network operations, reinforcing expectations that major corporations are beginning to test practical quantum applications. This lifted sentiment toward RGTI and other quantum-computing stocks. D-Wave Rises on Expanded AT&T Deal
• Neutral Sentiment: Investors are awaiting Rigetti’s upcoming second-quarter results for evidence of Novera sales, Cepheus-1 adoption, and progress toward improved qubit fidelity. The report could validate—or challenge—the company’s technology roadmap. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Negative Sentiment: Commentary continues to highlight that Rigetti’s revenue remains small and tied largely to pilots, grants, and collaborations. Analysts and investors question how quickly quantum systems can produce meaningful profits, while the company remains loss-making and trades at a valuation dependent on long-term execution. Reports also indicate that insiders have sold shares without recorded open-market purchases during the past six months, adding a modest cautionary signal.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RGTI shares. Weiss Ratings raised shares of Rigetti Computing from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 21st. Northland Securities started coverage on Rigetti Computing in a research note on Monday, April 20th. They set a "market perform" rating and a $20.00 price objective for the company. Benchmark assumed coverage on Rigetti Computing in a research report on Monday. They set a "buy" rating and a $25.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $31.00 target price on shares of Rigetti Computing in a research note on Tuesday, May 12th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Rigetti Computing has an average rating of "Moderate Buy" and a consensus target price of $32.00.

Rigetti Computing Stock Performance

The stock's 50 day simple moving average is $19.65 and its 200 day simple moving average is $18.67. The firm has a market cap of $5.20 billion, a PE ratio of -17.98 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted 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 net margin of 2,789.71% and a negative return on equity of 10.40%. The firm had revenue of $4.40 million for the quarter, compared to analysts' expectations of $4.09 million. During the same quarter last year, the company posted ($0.05) EPS. The business's quarterly revenue was up 198.9% on a year-over-year basis. As a group, analysts anticipate that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Rigetti Computing

In other news, Director Ray O. Johnson sold 84,944 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $20.55, for a total value of $1,745,599.20. Following the completion of the transaction, the director directly owned 95,537 shares in the company, valued at approximately $1,963,285.35. This represents a 47.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total value of $84,501.90. Following the transaction, the chief financial officer owned 171,927 shares in the company, valued at $3,945,724.65. This trade represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 728,901 shares of company stock worth $17,546,343 over the last 90 days. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of Rigetti Computing

A number of hedge funds have recently bought and sold shares of RGTI. Heritage Wealth Advisors grew its position in Rigetti Computing by 454.3% during the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company's stock valued at $26,000 after acquiring an additional 954 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Rigetti Computing by 138.4% in the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company's stock worth $27,000 after acquiring an additional 707 shares during the last quarter. PeakShares LLC purchased a new stake in shares of Rigetti Computing in the 1st quarter valued at $28,000. EFG International AG purchased a new stake in shares of Rigetti Computing in the 4th quarter valued at $28,000. Finally, Tsfg LLC grew its holdings in shares of Rigetti Computing by 320.5% during the 4th quarter. Tsfg LLC now owns 1,312 shares of the company's stock valued at $29,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors 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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