Rigetti Computing’s (RGTI) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Rigetti Computing (NASDAQ:RGTI) in a research note published on Friday morning,Benzinga reports. Rosenblatt Securities currently has a $40.00 price objective on the stock.

Several other equities research analysts have also commented on RGTI. Weiss Ratings upgraded shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Northland Securities started coverage on Rigetti Computing in a report on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price for the company. Mizuho decreased their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Finally, Benchmark assumed coverage on Rigetti Computing in a report on Monday, July 27th. They set a “buy” rating and a $25.00 price target on the stock. Seven equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.67.

Rigetti Computing Price Performance

RGTI opened at $17.94 on Friday. Rigetti Computing has a 1 year low of $12.53 and a 1 year high of $58.15. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of -19.93 and a beta of 1.99. The firm’s fifty day moving average price is $18.28 and its two-hundred day moving average price is $18.06.

Rigetti Computing (NASDAQ:RGTI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.82%. The company had revenue of $5.14 million during the quarter, compared to the consensus estimate of $5.09 million. As a group, equities analysts anticipate that Rigetti Computing will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ray O. Johnson sold 84,944 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the completion of the transaction, the director directly owned 95,537 shares of the company’s stock, valued at $1,963,285.35. This represents a 47.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the sale, the chief technology officer owned 325,945 shares of the company’s stock, valued at approximately $8,279,003. The trade was a 60.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 728,901 shares of company stock valued at $17,546,343. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

Hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its stake 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 valued at $831,000 after buying an additional 535 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Rigetti Computing by 10.2% during the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company’s stock worth $147,000 after acquiring an additional 615 shares in the last quarter. Comerica Bank lifted 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 worth $950,000 after acquiring an additional 653 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Rigetti Computing by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 64,206 shares of the company’s stock worth $1,422,000 after acquiring an additional 656 shares during the period. Finally, Larson Financial Group LLC boosted 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 acquiring an additional 707 shares during the period. 35.38% of the stock is currently owned by institutional investors.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Commercial momentum is improving. Second-quarter revenue rose 185.3% year over year to approximately $5.14 million, slightly exceeding consensus expectations. Wedbush said shipments of Rigetti’s Novera quantum systems are driving a more commercial revenue mix, while other coverage highlighted major quantum-computing orders. Rigetti Computing Q2 Shows Commercial Mix Inflection Rigetti Stock Rises as Major Quantum Orders Fuel Growth
• Positive Sentiment: Analyst support added to the bullish case. Rosenblatt Securities reaffirmed its “buy” rating and maintained a $40 price target, implying substantial upside from the stock’s recent level. Broader investor interest in quantum-computing stocks is also being supported by expectations for progress toward a potential “quantum advantage” milestone in 2026. Rosenblatt Rating Update Quantum Computing Stocks With Analyst Upside
• Positive Sentiment: Rigetti reported technology and strategic progress. The company cited improving quantum performance, continued development of its technology roadmap, partnerships including Hewlett Packard Enterprise, and potential U.S. government research support of up to $100 million. It ended June with approximately $541.3 million in cash and no debt, providing financial flexibility. Rigetti Computing Reports Second Quarter Results

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.