Rigetti Computing (NASDAQ:RGTI) Trading Up 1.8% – Time to Buy?

Rigetti Computing, Inc. (NASDAQ:RGTI) shares were up 1.8% during mid-day trading on Wednesday . The company traded as high as $18.67 and last traded at $18.42. 16,619,150 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 33,029,586 shares. The stock had previously closed at $18.09.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti is expanding global quantum-computing deployments, progressing its 108-qubit system and targeting approximately 1,000 qubits over time. The roadmap could support broader commercial adoption and improve investor confidence in the company’s technology execution. Rigetti Advances Quantum Roadmap With Strategic Global Expansion
• Positive Sentiment: Management’s second-quarter commentary highlighted efforts to improve Cepheus system fidelity and potential support from U.S. government funding. Demand is reportedly expanding among government, academic and commercial customers, which could strengthen Rigetti’s long-term revenue opportunity. RGTI Q2 Earnings Call Focuses on Fidelity and Government Support
• Positive Sentiment: Analyst coverage cited a $32.00 consensus price target, implying that some analysts see meaningful upside from Rigetti’s recent trading levels. However, target prices are estimates rather than guarantees. Rigetti Receives $32.00 Consensus Target Price
• Neutral Sentiment: Comparisons with IonQ and D-Wave place Rigetti’s roadmap in the broader quantum-computing investment race. The discussion may attract attention to RGTI, but it also underscores intense competition across the sector. IonQ, D-Wave or Rigetti: Which Quantum Stock Is the Best Buy After Q2?
• Negative Sentiment: Despite reported second-quarter revenue growth of 185%, coverage continues to flag substantial losses and uneven demand. Rigetti’s negative earnings and net margins indicate that commercialization remains early and execution risk is high. Is Rigetti Stock a Buy or Hold After Its Q2 Earnings Report?

Wall Street Analysts Forecast Growth

RGTI has been the topic of several analyst reports. Benchmark started coverage on shares of Rigetti Computing in a research note on Monday, July 27th. They set a “buy” rating and a $25.00 price target on the stock. Weiss Ratings upgraded Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Wall Street Zen cut Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Saturday. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price objective on shares of Rigetti Computing in a research note on Friday, August 7th. Finally, Wedbush began coverage on shares of Rigetti Computing in a report on Monday, August 3rd. They issued an “outperform” rating and a $40.00 target price for the company. Seven investment analysts have rated the stock with 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

Rigetti Computing Stock Performance

The company has a market cap of $6.12 billion, a P/E ratio of -20.47 and a beta of 1.99. The firm’s fifty day moving average is $17.94 and its two-hundred day moving average is $17.92.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Rigetti Computing had a negative return on equity of 17.82% and a negative net margin of 2,189.54%.The business had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $5.09 million. On average, equities research analysts expect that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling

In related news, CTO David Rivas sold 499,328 shares of Rigetti Computing 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. This trade represents a 60.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ray O. Johnson sold 84,944 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $20.55, for a total value of $1,745,599.20. Following the completion of the transaction, the director directly owned 95,537 shares in the company, valued at approximately $1,963,285.35. This represents a 47.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rigetti Computing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Rigetti Computing by 106.2% during the first quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock valued at $1,748,000 after acquiring an additional 113,644 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Rigetti Computing by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock valued at $642,000 after purchasing an additional 47,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock valued at $890,000 after purchasing an additional 22,770 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Rigetti Computing by 197.8% during the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock valued at $203,000 after purchasing an additional 16,998 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing in the first quarter worth about $3,115,000. Institutional investors own 35.38% of the company’s stock.

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.