Rigetti Computing (NASDAQ:RGTI) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Rigetti Computing (NASDAQ:RGTI) from a hold rating to a sell rating in a research report report published on Saturday.

RGTI has been the subject of a number of other reports. Mizuho lowered their price objective on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Northland Securities began coverage on Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and set a $18.00 price target on shares of Rigetti Computing in a report on Friday. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Rigetti Computing in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

Rigetti Computing Stock Up 8.5%

Shares of NASDAQ:RGTI opened at $17.94 on Friday. Rigetti Computing has a fifty-two week low of $12.53 and a fifty-two week high of $58.15. The firm has a 50-day simple moving average of $18.28 and a 200 day simple moving average of $18.06. The company has a market cap of $5.96 billion, a PE ratio of -19.93 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $5.09 million. Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.82%. As a group, research analysts forecast that Rigetti Computing will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer directly owned 325,945 shares of the company’s stock, valued at approximately $8,279,003. This trade represents a 60.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray O. Johnson sold 122,188 shares of Rigetti Computing stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $21.30, for a total transaction of $2,602,604.40. Following the sale, the director owned 171,273 shares in the company, valued at approximately $3,648,114.90. This represents a 41.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rigetti Computing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clear Street Group Inc. raised its position in shares of Rigetti Computing by 71.1% during the 4th quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock worth $60,761,000 after buying an additional 1,140,183 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Rigetti Computing by 105.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock valued at $1,733,000 after acquiring an additional 63,331 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Rigetti Computing by 66.3% during the fourth quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock valued at $2,664,000 after acquiring an additional 47,935 shares during the period. Spear Advisors LLC acquired a new position in shares of Rigetti Computing during the fourth quarter valued at approximately $2,062,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Rigetti Computing during the fourth quarter valued at approximately $4,937,000. Institutional investors own 35.38% of the company’s stock.

Trending Headlines about 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.