Rigetti Computing (NASDAQ:RGTI) Stock Price Up 6.7% - Time to Buy?

Key Points

• Rigetti shares rose 6.7% to $15.88 on Monday with 25.6M shares traded (about 16% below the average), and the stock sits below its 50‑day and 200‑day simple moving averages of $18.71 and $25.96.
• Analyst coverage is mixed but skewed positive: the consensus is a Moderate Buy with an average price target of $31.70 (eight Buys, three Holds, one Sell), though several firms recently trimmed targets.
• Fundamentals remain strained—quarterly EPS beat modestly at -$0.03 vs. -$0.05 expected while revenue fell 17.9% Y/Y, the company posts negative margins, and insiders (CFO and CTO) recently sold shares.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) traded up 6.7% during trading on Monday . The stock traded as high as $15.89 and last traded at $15.88. 25,611,498 shares traded hands during trading, a decline of 16% from the average session volume of 30,317,223 shares. The stock had previously closed at $14.88.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RGTI shares. Benchmark cut their price target on shares of Rigetti Computing from $35.00 to $25.00 and set a "buy" rating for the company in a report on Friday. Royal Bank Of Canada lowered shares of Rigetti Computing to a "hold" rating in a research report on Thursday, January 22nd. Rosenblatt Securities restated a "buy" rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Thursday, March 5th. Needham & Company LLC dropped their price objective on Rigetti Computing from $51.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Finally, Wall Street Zen cut Rigetti Computing from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.70.

Rigetti Computing Stock Up 6.7%

The firm's fifty day simple moving average is $18.71 and its 200-day simple moving average is $25.96. The company has a market cap of $5.27 billion, a PE ratio of -23.35 and a beta of 1.72.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business had revenue of $1.87 million during the quarter, compared to analysts' expectations of $2.33 million. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Bertelsen sold 4,270 shares of Rigetti Computing stock in a transaction dated 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 sale, the chief financial officer owned 175,609 shares in the company, valued at approximately $3,076,669.68. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Rivas sold 36,719 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88. Following the completion of the transaction, the chief technology officer directly owned 651,914 shares of the company's stock, valued at $11,421,533.28. The trade was a 5.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Investors Weigh In On Rigetti Computing

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Heritage Wealth Advisors lifted its stake in shares of 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 buying an additional 954 shares during the period. Larson Financial Group LLC grew its stake in 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 period. EFG International AG acquired a new position in Rigetti Computing in the 4th quarter valued at $28,000. Tsfg LLC raised its holdings in Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company's stock valued at $29,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rigetti Computing by 180.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company's stock worth $30,000 after purchasing an additional 858 shares during the period. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

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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