Rigetti Computing (NASDAQ:RGTI) Upgraded by Benchmark to "Strong-Buy" Rating

Rigetti Computing (NASDAQ:RGTI - Get Free Report) was upgraded by analysts at Benchmark to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on RGTI. Wall Street Zen raised Rigetti Computing from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price target on shares of Rigetti Computing in a report on Thursday, June 11th. Needham & Company LLC restated a "buy" rating and issued a $31.00 price target on shares of Rigetti Computing in a research report on Tuesday, May 12th. Northland Securities initiated coverage on Rigetti Computing in a research note on Monday, April 20th. They issued a "market perform" rating and a $20.00 price objective on the stock. Finally, Mizuho lowered their price objective on Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Rigetti Computing has a consensus rating of "Moderate Buy" and an average target price of $32.00.

Rigetti Computing Trading Up 10.5%

NASDAQ:RGTI opened at $15.64 on Monday. Rigetti Computing has a 12 month low of $12.53 and a 12 month high of $58.15. The company has a market cap of $5.20 billion, a PE ratio of -17.98 and a beta of 1.95. The company has a 50 day simple moving average of $19.63 and a two-hundred day simple moving average of $18.60.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $4.40 million during the quarter, compared to analyst estimates of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm's quarterly revenue was up 198.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. Research analysts forecast that Rigetti Computing will post -0.22 earnings per share for the current year.

Insider Activity at Rigetti Computing

In related news, Director Ray O. Johnson sold 122,188 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $21.30, for a total value of $2,602,604.40. Following the completion of the transaction, the director owned 171,273 shares of the company's stock, valued at approximately $3,648,114.90. This represents a 41.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Rivas sold 499,328 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.40, for a total value of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares of the company's stock, valued at $8,279,003. The trade was a 60.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Rigetti Computing

Several institutional investors have recently made changes to their positions in RGTI. Kestra Private Wealth Services LLC lifted its holdings in Rigetti Computing by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock worth $831,000 after purchasing an additional 535 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Rigetti Computing by 10.2% during the 4th quarter. Global Retirement Partners LLC now owns 6,656 shares of the company's stock valued at $147,000 after buying an additional 615 shares in the last quarter. Comerica Bank raised its position in shares of Rigetti Computing by 2.1% during the third quarter. Comerica Bank now owns 31,901 shares of the company's stock valued at $950,000 after buying an additional 653 shares during the last quarter. Main Management ETF Advisors LLC raised its position in shares of Rigetti Computing by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 64,206 shares of the company's stock valued at $1,422,000 after buying an additional 656 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Rigetti Computing by 138.4% in the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company's stock worth $27,000 after buying an additional 707 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company's stock.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: HPE and Pittsburgh Supercomputing Center partnership: Rigetti will provide a 9-qubit Novera system for TangleLab, a hybrid quantum-classical supercomputing testbed funded by a $5 million National Science Foundation grant. The project strengthens Rigetti’s relationship with Hewlett Packard Enterprise and could help validate its technology with researchers, educators, and future enterprise customers. Construction is expected to begin in September, with operations targeted for 2027. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Sector-wide analyst support: Benchmark initiated or reiterated “Buy” ratings on Rigetti, IonQ, and D-Wave, arguing that expanding enterprise adoption could support multiple successful quantum-computing platforms rather than a single dominant company. Benchmark projects industry revenue of approximately $1.5 billion in 2026, improving sentiment toward quantum stocks. Quantum’s Tipping Point
• Positive Sentiment: Upcoming earnings catalyst: Investors will focus on Novera revenue, adoption of the Cepheus-1 platform, and progress toward improved qubit fidelity in Rigetti’s second-quarter report. These metrics could provide evidence that the company is advancing its roadmap toward quantum advantage. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Neutral Sentiment: Commercial progress remains early: Rigetti’s latest reported quarterly revenue was $4.4 million, although revenue grew nearly 199% year over year and the company exceeded analysts’ estimates. The business remains focused on pilots, grants, partnerships, and long-term technology milestones rather than established recurring revenue.
• Negative Sentiment: Profitability and valuation risks: Analysts and financial commentary continue to caution that meaningful quantum-computing profits may be years away. Rigetti remains loss-making, and its elevated market valuation leaves the stock sensitive to delays in product delivery, weaker adoption, or disappointing technical progress. Recent insider activity also showed sales by executives without reported purchases, a potential sentiment headwind.

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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