Rigetti Computing (NASDAQ:RGTI) Shares Up 4.6% – Time to Buy?

Rigetti Computing, Inc. (NASDAQ:RGTI)’s share price shot up 4.6% during trading on Thursday . The company traded as high as $19.83 and last traded at $19.27. 33,651,986 shares changed hands during trading, an increase of 12% from the average session volume of 30,025,715 shares. The stock had previously closed at $18.42.

Rigetti Computing News Roundup

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

• Positive Sentiment: Several articles point to improving price action and a possible breakout setup, with Rigetti reclaiming key moving averages and showing bullish technical momentum. Rigetti Computing (RGTI) Price Forecast: Quantum Stock Near Critical Breakout Level
• Positive Sentiment: Rigetti’s Q1 results and peer comparisons are helping sentiment, as the company is being discussed alongside other leading quantum names in a growing industry. How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
• Positive Sentiment: Needham reiterated a Buy rating, and Mizuho raised its price target to $27, reinforcing the view that analysts still see upside despite volatility. Rigetti Computing Given Buy Rating at Needham & Company LLC
• Positive Sentiment: Mizuho’s higher target also suggests Wall Street sees room for further gains if execution continues to improve. Rigetti Computing Given New $27.00 Price Target at Mizuho
• Neutral Sentiment: Northland cut its FY2026 EPS estimate slightly to a loss of $0.14 from $0.13, signaling ongoing losses but not a major change in outlook. How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
• Neutral Sentiment: Some coverage says Rigetti remains more of a “hold” because commercial adoption is still early, which tempers the bullish narrative. RGTI Hits Technical Milestones Amid Early Demand: Time to Buy or Hold?
• Negative Sentiment: One article highlights that Rigetti’s valuation remains high relative to its current revenue base, which may keep some investors cautious. Rigetti Has a $6 Billion Market Cap and 7 Million in Revenue. Here Are the Two Stocks Worth Owning Instead
• Negative Sentiment: Another report says Rigetti sold off after earnings as investors remained focused on whether quantum sales growth can accelerate enough to justify the stock’s rally. Why Rigetti Computing Stock Is Tanking

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RGTI. Wedbush lifted their price objective on Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Benchmark reduced their price objective on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Royal Bank Of Canada downgraded Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Wall Street Zen downgraded Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, TD Cowen downgraded Rigetti Computing from a “buy” rating to a “hold” rating in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.18.

Rigetti Computing Stock Up 4.6%

The company has a market cap of $6.40 billion, a PE ratio of -22.15 and a beta of 1.79. The stock has a 50-day simple moving average of $16.52 and a 200 day simple moving average of $21.78.

Rigetti Computing (NASDAQ:RGTI) last posted its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 198.9% on a year-over-year basis. As a group, research analysts anticipate that Rigetti Computing, Inc. will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rigetti Computing news, CTO David Rivas sold 36,719 shares of Rigetti Computing stock in a transaction on Tuesday, March 10th. The stock was 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 ownership of the stock. The transaction 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 Rigetti Computing stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the sale, the chief financial officer owned 175,609 shares in the company, valued at $3,076,669.68. This represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rigetti Computing

Institutional investors and hedge funds have recently modified their holdings of the company. Heritage Wealth Advisors raised its holdings in shares of Rigetti Computing by 454.3% in the 4th 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% during the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after purchasing an additional 707 shares in the last quarter. PeakShares LLC acquired a new position in Rigetti Computing during the 1st quarter worth $28,000. EFG International AG acquired a new position in Rigetti Computing during the 4th quarter worth $28,000. Finally, Tsfg LLC grew its stake in Rigetti Computing by 320.5% during the 4th quarter. Tsfg LLC now owns 1,312 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

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.