Equities Analysts Offer Predictions for RGTI FY2027 Earnings

Rigetti Computing, Inc. (NASDAQ:RGTI) – Equities researchers at B. Riley issued their FY2027 earnings per share (EPS) estimates for Rigetti Computing in a note issued to investors on Tuesday, November 11th. B. Riley analyst C. Ellis forecasts that the company will earn ($0.05) per share for the year. B. Riley has a “Neutral” rating and a $42.00 price target on the stock. The consensus estimate for Rigetti Computing’s current full-year earnings is ($0.34) per share.

Rigetti Computing (NASDAQ:RGTI) last posted its earnings results on Monday, November 10th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $1.95 million for the quarter, compared to the consensus estimate of $2.17 million. Rigetti Computing had a negative return on equity of 23.39% and a negative net margin of 4,741.49%.The company’s quarterly revenue was down 18.1% compared to the same quarter last year.

Several other brokerages have also recently commented on RGTI. Williams Trading set a $40.00 price target on shares of Rigetti Computing in a research report on Tuesday. Needham & Company LLC increased their price objective on Rigetti Computing from $15.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 4th. Benchmark decreased their target price on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday. Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Rigetti Computing in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.43.

Rigetti Computing Price Performance

Shares of RGTI stock traded down $0.49 during trading hours on Wednesday, hitting $30.91. The company had a trading volume of 4,413,963 shares, compared to its average volume of 73,845,180. Rigetti Computing has a fifty-two week low of $1.28 and a fifty-two week high of $58.15. The company’s fifty day moving average is $33.80 and its 200 day moving average is $20.48. The stock has a market capitalization of $10.02 billion, a PE ratio of -23.91 and a beta of 1.64.

Insider Buying and Selling

In other news, CTO David Rivas sold 44,355 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $14.85, for a total transaction of $658,671.75. Following the completion of the sale, the chief technology officer owned 730,568 shares in the company, valued at $10,848,934.80. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael S. Clifton sold 75,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.00, for a total transaction of $1,425,000.00. Following the completion of the sale, the director owned 653,766 shares of the company’s stock, valued at $12,421,554. This trade represents a 10.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 454,204 shares of company stock worth $10,300,876.

Institutional Investors Weigh In On Rigetti Computing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Rigetti Computing by 40.4% in the third quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock valued at $954,665,000 after buying an additional 9,228,888 shares in the last quarter. State Street Corp boosted its holdings in Rigetti Computing by 12.0% in the second quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after acquiring an additional 946,850 shares during the last quarter. Marex Group plc acquired a new stake in Rigetti Computing during the 2nd quarter worth approximately $87,414,000. Geode Capital Management LLC raised its stake in shares of Rigetti Computing by 22.9% in the 2nd quarter. Geode Capital Management LLC now owns 6,484,155 shares of the company’s stock valued at $76,910,000 after acquiring an additional 1,206,925 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of Rigetti Computing by 43.8% in the third quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company’s stock worth $72,860,000 after buying an additional 744,577 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Company Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.