Rigetti Computing (NASDAQ:RGTI) Shares Down 3.4% on Analyst Downgrade

Rigetti Computing, Inc. (NASDAQ:RGTI) was down 3.4% during mid-day trading on Wednesday after Mizuho lowered their price target on the stock from $33.00 to $27.00. Mizuho currently has an outperform rating on the stock. Rigetti Computing traded as low as $17.89 and last traded at $18.42. Approximately 27,011,924 shares were traded during trading, a decline of 10% from the average daily volume of 29,962,213 shares. The stock had previously closed at $19.07.

Several other research firms have also issued reports on RGTI. TD Cowen lowered shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research report on Thursday, February 12th. Northland Securities started coverage on shares of Rigetti Computing in a research report on Monday, April 20th. They set a “market perform” rating and a $20.00 price target on the stock. Royal Bank Of Canada lowered shares of Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Rigetti Computing in a research report on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.18.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the company’s 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 transaction, the chief financial officer directly owned 175,609 shares in the company, valued at $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO David Rivas sold 36,719 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88. Following the completion of the transaction, the chief technology officer owned 651,914 shares in the company, valued at approximately $11,421,533.28. This represents a 5.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by insiders.

Key Rigetti Computing News

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

• Positive Sentiment: Rigetti beat Q1 earnings and revenue estimates, with losses narrowing to 4 cents per share and gross margins improving, which supports the view that execution is getting better. Rigetti Q1 Earnings & Revenues Beat Estimates, Gross Margin Up
• Positive Sentiment: The launch of Rigetti’s Cepheus-1-108Q system and expanding cloud access are viewed as technical milestones that could help drive future demand and partnerships. RGTI Hits Technical Milestones Amid Early Demand: Time to Buy or Hold?
• Neutral Sentiment: Analyst notes from Needham and Mizuho remain constructive overall, with both firms keeping favorable ratings, though Mizuho trimmed its price target. Rigetti Computing stock news and analyst coverage
• Negative Sentiment: Investors are still worried that Rigetti’s revenue base is small and commercial adoption is limited, making the stock vulnerable to selloffs after earnings despite the headline beat. Why Rigetti Computing Stock Is Tanking
• Negative Sentiment: Articles questioning Rigetti’s valuation argue the company’s market cap is high relative to its revenue, reinforcing concerns that the stock may be priced for growth that has not yet fully materialized. A Quantum Shift: Why Speculative Money Is Ditching AI

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft acquired a new position in shares of Rigetti Computing in the first quarter valued at $245,000. Swiss National Bank increased its holdings in shares of Rigetti Computing by 2.2% in the first quarter. Swiss National Bank now owns 653,300 shares of the company’s stock valued at $9,172,000 after purchasing an additional 14,100 shares during the last quarter. Ascent Wealth Partners LLC grew its stake in shares of Rigetti Computing by 11.4% in the first quarter. Ascent Wealth Partners LLC now owns 14,425 shares of the company’s stock valued at $203,000 after acquiring an additional 1,471 shares in the last quarter. PeakShares LLC acquired a new position in shares of Rigetti Computing in the first quarter valued at about $28,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Rigetti Computing by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 28,111 shares of the company’s stock valued at $379,000 after acquiring an additional 2,770 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Stock Down 3.4%

The company’s 50 day moving average is $16.51 and its 200 day moving average is $21.93. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -21.17 and a beta of 1.79.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.90%. The business had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Rigetti Computing’s revenue was up 198.9% compared to the same quarter last year. On average, analysts expect that Rigetti Computing, Inc. will post -0.16 EPS for the current year.

Rigetti Computing Company Profile

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.