Rigetti Computing (NASDAQ:RGTI) Trading Down 4.4% After Analyst Downgrade

Rigetti Computing, Inc. (NASDAQ:RGTI)’s share price was down 4.4% on Thursday after Benchmark lowered their price target on the stock from $40.00 to $35.00. Benchmark currently has a buy rating on the stock. Rigetti Computing traded as low as $15.94 and last traded at $16.97. Approximately 41,670,455 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 31,685,047 shares. The stock had previously closed at $17.76.

Several other equities analysts have also issued reports on RGTI. TD Cowen lowered shares of Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. B. Riley Financial raised shares of Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rigetti Computing in a research report on Monday, December 29th. Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a report on Thursday. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a research note on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.70.

Rigetti Computing News Roundup

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

• Positive Sentiment: Technical milestones and customer orders support long‑term growth — Rigetti reported very high gate‑fidelity results (up to 99.9% two‑qubit fidelity on prototypes) and reiterated progress toward a 108‑qubit chiplet system; it also announced an ~ $8.4M purchase order from India’s C‑DAC and other on‑premises orders. Rigetti press release
• Positive Sentiment: Cash runway looks healthy near term — the company reported cash, cash equivalents and available‑for‑sale investments of ~$589.8M as of Dec‑31, 2025, which reduces near‑term financing risk while it scales R&D and deployments. Quiver summary
• Neutral Sentiment: Analysts remain constructive but trimmed targets — multiple firms reaffirmed buy/outperform ratings while lowering price targets (e.g., Benchmark cut to $35, Mizuho to $43, Needham to $31; Rosenblatt reiterated $40). That keeps bullish upside on the tape despite reduced near‑term expectations. Benzinga analyst notes
• Negative Sentiment: Revenue missed estimates and declined year‑over‑year — Q4 revenue of ~$1.87M came in below consensus (~$2.3M), and full‑year revenue fell to $7.1M. Lower sales compared with expectations is the primary near‑term negative catalyst. Yahoo Finance: Revenue miss
• Negative Sentiment: Widening operating losses and margin pressure — Q4 operating loss was ~$22.6M and full‑year GAAP net loss was large ($216.2M), driven by rising R&D and operating expenses; investors penalized the stock for deteriorating near‑term profitability and tighter margins. Seeking Alpha: Market reaction

Institutional Investors Weigh In On Rigetti Computing

A number of institutional investors have recently made changes to their positions in RGTI. Rothschild Investment LLC lifted its holdings in Rigetti Computing by 26.1% during the 3rd quarter. Rothschild Investment LLC now owns 1,665 shares of the company’s stock worth $50,000 after purchasing an additional 345 shares during the last quarter. Trust Co. of Toledo NA OH grew its holdings in Rigetti Computing by 1.7% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 21,178 shares of the company’s stock valued at $631,000 after buying an additional 357 shares in the last quarter. Prospera Financial Services Inc increased its position in Rigetti Computing by 1.0% during the 3rd quarter. Prospera Financial Services Inc now owns 41,789 shares of the company’s stock worth $1,245,000 after buying an additional 419 shares during the period. Kestra Private Wealth Services LLC increased its position in Rigetti Computing by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company’s stock worth $831,000 after buying an additional 535 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of Rigetti Computing by 17.7% during the third quarter. MAI Capital Management now owns 3,763 shares of the company’s stock worth $112,000 after buying an additional 566 shares in the last quarter. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Price Performance

The stock’s 50-day moving average price is $20.49 and its 200-day moving average price is $25.81. The company has a market cap of $5.60 billion, a P/E ratio of -13.05 and a beta of 1.71.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The business had revenue of $1.87 million for the quarter, compared to analyst estimates of $2.33 million. Rigetti Computing’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal 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.