Rigetti Computing (NASDAQ:RGTI) Upgraded at Zacks Research

Zacks Research upgraded shares of Rigetti Computing (NASDAQ:RGTI) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks reports.

Several other equities research analysts have also weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Rigetti Computing in a research report on Friday, August 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective on shares of Rigetti Computing in a report on Friday, August 7th. Wedbush assumed coverage on Rigetti Computing in a research report on Monday, August 3rd. They set an “outperform” rating and a $40.00 price objective for the company. Benchmark initiated coverage on Rigetti Computing in a research report on Monday, July 27th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rigetti Computing has a consensus rating of “Hold” and an average target price of $30.67.

Rigetti Computing Price Performance

Shares of RGTI opened at $14.14 on Tuesday. The company has a 50-day simple moving average of $16.18 and a two-hundred day simple moving average of $17.48. The firm has a market capitalization of $4.72 billion, a PE ratio of -15.71 and a beta of 2.02. Rigetti Computing has a one year low of $12.53 and a one year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%.The firm had revenue of $5.14 million for the quarter, compared to the consensus estimate of $5.09 million. Analysts expect that Rigetti Computing will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In other news, COO David Rivas sold 9,038 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.79, for a total value of $151,748.02. Following the sale, the chief operating officer directly owned 316,907 shares of the company’s stock, valued at $5,320,868.53. The trade was a 2.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Bestwick sold 5,791 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.81, for a total value of $97,346.71. Following the completion of the sale, the chief technology officer owned 1,036,121 shares in the company, valued at $17,417,194.01. The trade was a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 163,689 shares of company stock valued at $2,570,890 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

Hedge funds have recently added to or reduced their stakes in the stock. Clear Street Group Inc. grew its position in Rigetti Computing by 71.1% during the 4th quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock valued at $60,761,000 after purchasing an additional 1,140,183 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Rigetti Computing by 105.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock valued at $1,733,000 after purchasing an additional 63,331 shares in the last quarter. Burr Financial Services LLC purchased a new position in Rigetti Computing in the third quarter worth about $6,181,000. Granahan Investment Management LLC raised its holdings in Rigetti Computing by 47.7% in the first quarter. Granahan Investment Management LLC now owns 326,721 shares of the company’s stock worth $4,587,000 after buying an additional 105,494 shares during the last quarter. Finally, Encore Global Management LP bought a new position in shares of Rigetti Computing in the first quarter worth approximately $1,685,000. 35.38% of the stock is owned by institutional investors.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Zacks Research upgraded Rigetti from “Strong Sell” to “Hold,” removing the most bearish rating from its view of the stock. However, the change is not a bullish “Buy” recommendation. Rigetti Computing Upgraded to Hold at Zacks Research
• Positive Sentiment: Analysts’ average brokerage recommendation remains equivalent to a Buy, which could provide some underlying support for RGTI. The article also notes that such optimistic sell-side ratings may not reliably predict returns. Wall Street Analysts See Rigetti Computing as a Buy
• Neutral Sentiment: A comparison with D-Wave Quantum highlights Rigetti’s lower valuation, but also emphasizes that both companies are burning cash and have unproven commercial roadmaps. This reinforces the sector’s high-risk, speculative profile. D-Wave Quantum vs. Rigetti Computing
• Negative Sentiment: Investors are questioning whether Rigetti’s approximately $14–$15 share price is justified by its balance-sheet book value. The stock’s roughly 8.7-fold three-year gain has increased scrutiny over how much of its valuation is supported by tangible fundamentals. Rigetti Stock Looks Rich as Book Value Questions Linger
• Negative Sentiment: Recent market coverage focused on RGTI falling more sharply than the broader market, signaling weak short-term momentum. With negative earnings, a highly negative net margin and continued cash-burn concerns, valuation-sensitive investors may remain cautious. Rigetti Registers a Bigger Fall Than the Market

About Rigetti Computing

Rigetti Computing, Inc is a quantum computing company that develops full-stack quantum computing systems based on superconducting qubit technology. The company designs and manufactures quantum processors, develops the software and control systems used to operate them, and provides access to its quantum computing capabilities through cloud-based services.

Rigetti’s products and services include its quantum processing units (QPUs), quantum-classical computing infrastructure, and the Rigetti Quantum Cloud Services platform.