Rigetti Computing (NASDAQ:RGTI) Trading Up 3.5% - Should You Buy?

Key Points

• Shares rose 3.5% to $17.60 on Monday with volume down about 18% versus the average, and the stock is trading below its 50‑day and 200‑day moving averages ($20.24 and $25.90).
• Wall Street holds a consensus "Moderate Buy" (8 Buys, 3 Holds, 1 Sell) with a consensus price target of $32.70, and recent analyst activity includes B. Riley upgrading to Buy with a $35 target.
• Fundamentals remain challenged: Rigetti posted an EPS beat of -$0.03 vs. -$0.05 but revenue fell 17.9% year‑over‑year, the company shows large negative margins and a negative P/E, and analysts expect full‑year EPS around -$0.34.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) shares traded up 3.5% on Monday . The stock traded as high as $17.69 and last traded at $17.60. 25,936,862 shares were traded during trading, a decline of 18% from the average session volume of 31,452,207 shares. The stock had previously closed at $17.01.

Wall Street Analysts Forecast Growth

RGTI has been the subject of several research analyst reports. B. Riley Financial upgraded Rigetti Computing from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a report on Thursday, January 22nd. Royal Bank Of Canada downgraded Rigetti Computing to a "hold" rating in a research note on Thursday, January 22nd. TD Cowen cut Rigetti Computing from a "buy" rating to a "hold" rating in a research report on Thursday, February 12th. Benchmark decreased their price objective on Rigetti Computing from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rigetti Computing in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.70.

Rigetti Computing Trading Up 3.5%

The stock has a market cap of $5.81 billion, a P/E ratio of -25.88 and a beta of 1.72. The business has a 50-day simple moving average of $20.24 and a 200 day simple moving average of $25.90.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.87 million during the quarter, compared to analysts' expectations of $2.33 million. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts expect that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Rigetti Computing

Several hedge funds have recently bought and sold shares of RGTI. Osaic Holdings Inc. boosted its position in shares of Rigetti Computing by 119.2% in the 2nd quarter. Osaic Holdings Inc. now owns 260,307 shares of the company's stock worth $3,087,000 after purchasing an additional 141,541 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Rigetti Computing by 24.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 43,260 shares of the company's stock worth $513,000 after buying an additional 8,419 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Rigetti Computing by 43.8% during the third quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company's stock valued at $72,860,000 after buying an additional 744,577 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Rigetti Computing by 16.3% during the second quarter. SBI Securities Co. Ltd. now owns 195,159 shares of the company's stock valued at $2,315,000 after buying an additional 27,422 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Rigetti Computing by 18.3% in the 2nd quarter. Swiss National Bank now owns 546,100 shares of the company's stock valued at $6,477,000 after purchasing an additional 84,300 shares in the last quarter. 35.38% of the stock is currently owned by 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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