Rigetti Computing (NASDAQ:RGTI) Trading 10% Higher - What's Next?

Key Points

• Shares jumped approximately 10% to about $20 on heavy, above‑average volume (34.3M shares) after upbeat coverage — Zacks' 75% target upside, Northland's positive view, hardware milestones and management's appearance at the Needham conference provided near‑term catalysts, though technical commentary flags momentum-driven moves.
• Fundamentals remain a concern: Q1 revenue was just $1.87M with ongoing losses (reported negative net margin of 3,111.92%), analysts are mixed but consensus is a "Moderate Buy" with a $30.64 target, so the rally is sensitive to upcoming earnings and execution.

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) traded up 10% during mid-day trading on Wednesday . The company traded as high as $20.12 and last traded at $20.09. 34,319,511 shares were traded during trading, an increase of 15% from the average session volume of 29,796,563 shares. The stock had previously closed at $18.27.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Zacks highlights RGTI as one of the "Best Stocks for May," assigning a ~75% target upside into earnings — this kind of upbeat target can drive buying interest ahead of the company’s Q1 report. Best Stocks for May: QBTS, RGTI With 75% Target Upside Before Earnings
• Positive Sentiment: Northland and related coverage point to rising compute demand for AI leading the quantum industry and call Rigetti a long-term buy-and-hold candidate, which supports investor confidence ahead of earnings. Northland Believes Compute Demand For AI Leading Quantum Industry, Here’s What it Thinks About Rigetti Computing (RGTI)
• Positive Sentiment: Coverage noting Rigetti’s hardware milestones (qubit expansion) and international/government contracts is reinforcing a narrative of execution that can justify premium sentiment for a pure‑play quantum name. Will Quantum Hardware Milestones and Global Contracts Reshape Rigetti Computing's (RGTI) Investment Narrative?
• Positive Sentiment: Rigetti announced CEO and CFO participation in the Needham Technology conference (May 13), giving management a platform to present execution progress and answer investor questions — a near-term visibility catalyst. Rigetti Computing to Participate in Fireside Chat at 21st Annual Needham Technology, Media, & Consumer Conference
• Neutral Sentiment: Sector momentum: a 247WallStreet piece shows quantum stocks broadly rallying — positive market context but not company‑specific proof of durable fundamentals. Which Quantum Computing Stock Has Dominated in 2026: IonQ, Rigetti, or D-Wave?
• Neutral Sentiment: Technical/flow note: a YouTube market‑charts segment highlights RGTI’s volatile surge and trapped traders — a reminder this move may be driven by momentum and position management rather than fresh fundamental news. Market Charts to Watch Now- RGTI, ORCL & S&P 500
• Negative Sentiment: Valuation and fundamentals caution: analysis notes that recent gains contrast with ongoing losses, thin revenue, and questions about how current pricing aligns with long‑term execution — a reminder the rally is sensitive to any disappointing Q1 results. Assessing Rigetti Computing (RGTI) Valuation After Recent Share Price Momentum And Ongoing Losses
• Negative Sentiment: Contrarian take: The Motley Fool notes Rigetti still has "a long way to go" to build a viable business — this type of analysis can temper investor enthusiasm if upcoming results fail to show clear revenue and margin progress. Is Rigetti Computing a Buy?

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Northland Securities assumed coverage on shares of Rigetti Computing in a research report on Monday, April 20th. They set a "market perform" rating and a $20.00 price objective for the company. Mizuho lowered their target price on shares of Rigetti Computing from $50.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, March 5th. Benchmark lowered their target price on shares of Rigetti Computing from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, March 20th. TD Cowen cut shares of Rigetti Computing from a "buy" rating to a "hold" rating in a research note on Thursday, February 12th. Finally, Wall Street Zen cut shares of Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.64.

Rigetti Computing Stock Up 10.0%

The firm's 50 day simple moving average is $16.29 and its 200 day simple moving average is $22.75.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $1.87 million for the quarter, compared to analysts' expectations of $2.33 million. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business's revenue was down 17.9% on a year-over-year basis. As a group, equities analysts forecast that Rigetti Computing, Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 36,719 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 value of $643,316.88. Following the sale, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. The trade was a 5.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business'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 completion of the sale, the chief financial officer owned 175,609 shares in the company, valued at approximately $3,076,669.68. The trade was a 2.37% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by insiders.

Institutional Trading of Rigetti Computing

A number of large investors have recently made changes to their positions in RGTI. Royal Bank of Canada increased its holdings in shares of Rigetti Computing by 106.2% in 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 last quarter. AQR Capital Management LLC increased its holdings in shares of Rigetti Computing by 138.9% in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rigetti Computing by 25.4% in 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 last quarter. NewEdge Advisors LLC increased its holdings in shares of Rigetti Computing by 197.8% in 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 last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing in the 1st quarter worth about $3,115,000. 35.38% of the stock is currently owned by institutional investors.

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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