Rigetti Computing (NASDAQ:RGTI) Stock Price Up 10.5% – Still a Buy?

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) were up 10.5% during trading on Monday . The company traded as high as $16.12 and last traded at $15.64. Approximately 30,302,235 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 34,057,457 shares. The stock had previously closed at $14.15.

Rigetti Computing News Roundup

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

• Positive Sentiment: Rigetti is expanding its partnership with Hewlett Packard Enterprise by supplying a 9-qubit Novera quantum system for TangleLab, a hybrid quantum-classical supercomputer backed by the U.S. National Science Foundation. The project could improve Rigetti’s visibility with researchers, educators and government-supported computing programs. Rigetti Stock Falls After Rising on HPE Partnership Expansion
• Positive Sentiment: Benchmark initiated coverage of Rigetti with a Buy rating and a $25 price target, arguing that multiple quantum-computing platforms could succeed as enterprise adoption expands. The broader sector outlook has also improved as commercial applications move closer to reality. Quantum Stocks Win Buy Ratings
• Positive Sentiment: Industry commentary points to AI, cloud delivery and commercial partnerships accelerating quantum-computing adoption. AT&T’s expanded relationship with D-Wave, which reportedly reduced a network task from 60 minutes to 15 seconds, provides a favorable read-through for the sector, including Rigetti. D-Wave’s AT&T Deal Shows Quantum Computing Is Moving Beyond Theory
• Neutral Sentiment: Investors are watching the upcoming second-quarter report for Novera revenue, Cepheus-1 adoption and progress toward higher-fidelity systems. Rigetti recently exceeded quarterly EPS and revenue expectations, although it remains unprofitable. Rigetti’s Upcoming Q2 Results
• Negative Sentiment: The immediate weakness appears driven by profit-taking after the HPE announcement and a broader pullback in AI-infrastructure and quantum stocks. Investors remain concerned about elevated valuations, continuing losses and the uncertain timing of meaningful quantum-computing profits. Quantum Stocks After the AI Infrastructure Pullback

Wall Street Analysts Forecast Growth

Several research analysts have commented on RGTI shares. Wall Street Zen raised Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Mizuho decreased their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research report on Thursday, June 11th. Finally, Benchmark started coverage on shares of Rigetti Computing in a report on Monday. They set a “buy” rating and a $25.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Rigetti Computing Price Performance

The business’s 50-day moving average price is $19.60 and its two-hundred day moving average price is $18.53. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of -15.55 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Equities analysts predict that Rigetti Computing, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 499,328 shares of the 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 transaction, the chief technology officer owned 325,945 shares of the company’s stock, valued at $8,279,003. This trade represents a 60.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ray O. Johnson sold 122,188 shares of Rigetti Computing stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $21.30, for a total value of $2,602,604.40. Following the completion of the transaction, the director owned 171,273 shares of the company’s stock, valued at approximately $3,648,114.90. The trade was a 41.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 728,901 shares of company stock valued at $17,546,343. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Rigetti Computing

Large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in Rigetti Computing by 21.0% during the second quarter. Handelsbanken Fonder AB now owns 122,500 shares of the company’s stock valued at $2,367,000 after purchasing an additional 21,300 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Rigetti Computing during the 2nd quarter valued at about $197,000. NewEdge Advisors LLC grew its position in shares of Rigetti Computing by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 65,694 shares of the company’s stock valued at $922,000 after buying an additional 4,149 shares during the last quarter. Janus Henderson Group PLC raised its stake in Rigetti Computing by 7.3% during the first quarter. Janus Henderson Group PLC now owns 199,987 shares of the company’s stock worth $2,809,000 after acquiring an additional 13,666 shares during the period. Finally, Encore Global Management LP bought a new position in Rigetti Computing in the first quarter worth about $1,685,000. 35.38% of the stock is currently owned by institutional investors.

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.