Rigetti Computing (NASDAQ:RGTI) Trading 3.6% Higher – Still a Buy?

Rigetti Computing, Inc. (NASDAQ:RGTI) shares rose 3.6% during mid-day trading on Friday . The stock traded as high as $26.18 and last traded at $25.5940. Approximately 33,655,488 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 32,383,746 shares. The stock had previously closed at $24.70.

Key Rigetti Computing News

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

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy and a $40 price target (roughly 56% upside from recent levels), citing conviction in quantum names; that initiation and related press (Barron’s, Benzinga, Globe and Mail/MSN pickups) is a major bullish catalyst lifting sentiment. Rosenblatt Buy Coverage (Barron’s)
• Positive Sentiment: Rosenblatt also issued a “strong‑buy” tone in subsequent notes and media pickups, reinforcing the initial upside thesis and likely contributing to intraday buying pressure. Zacks: Rosenblatt strong-buy
• Positive Sentiment: Mizuho reiterated its Buy rating, adding to the cluster of broker support that can attract momentum and institutional interest. Mizuho Buy Hold
• Positive Sentiment: Analyst roundups show multiple firms publicly bullish or covering RGTI, which increases visibility and can mechanically raise demand for the shares. Analyst roundup (Benzinga)
• Neutral Sentiment: Sector comparison pieces (QBTS, IONQ, RGTI) ahead of Q4 earnings highlight differing fundamentals across quantum players; these previews raise focus on upcoming results but don’t change the thesis until numbers/guidance arrive. Q4 earnings preview (Zacks)
• Negative Sentiment: Short-term technical/price pressure: reports flagged a recent daily decline and “stock falls amid market uptick,” signaling that despite positive coverage the shares have experienced near-term volatility. Recent pullback note (Zacks)
• Negative Sentiment: A critical take from Seeking Alpha calls RGTI “a falling knife,” stressing weak revenue trends, negative margins and execution risk — the kind of analysis that can dampen conviction among value‑oriented investors ahead of quarterly results. Critical analysis (Seeking Alpha)

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RGTI. Rosenblatt Securities initiated coverage on Rigetti Computing in a report on Thursday. They set a “buy” rating and a $40.00 price objective for the company. Jefferies Financial Group began coverage on Rigetti Computing in a research report on Tuesday, December 16th. They set a “hold” rating and a $30.00 price target for the company. Mizuho assumed coverage on shares of Rigetti Computing in a report on Thursday, December 11th. They issued an “outperform” rating and a $50.00 price objective on the stock. Wedbush began coverage on shares of Rigetti Computing in a report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 target price for the company. Finally, Benchmark decreased their target price on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rigetti Computing has an average rating of “Moderate Buy” and an average target price of $32.10.

Rigetti Computing Stock Performance

The firm has a fifty day moving average price of $25.48 and a 200 day moving average price of $24.80. The company has a market cap of $8.45 billion, a price-to-earnings ratio of -19.69 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Monday, November 10th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $1.95 million for the quarter, compared to the consensus estimate of $2.17 million. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. Rigetti Computing’s revenue was down 18.1% on a year-over-year basis. On average, analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Rigetti Computing

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc raised its stake in Rigetti Computing by 146.1% in the second quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock valued at $26,000 after buying an additional 1,300 shares during the period. Danske Bank A S acquired a new position in shares of Rigetti Computing during the 3rd quarter worth approximately $30,000. Parallel Advisors LLC raised its stake in Rigetti Computing by 403.2% in the 3rd quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock valued at $32,000 after acquiring an additional 871 shares during the period. Armstrong Advisory Group Inc. raised its stake in Rigetti Computing by 225.4% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 2,974 shares of the company’s stock valued at $35,000 after acquiring an additional 2,060 shares during the period. Finally, Clearstead Advisors LLC bought a new stake in Rigetti Computing in the 3rd quarter valued at $35,000. Institutional investors own 35.38% of the company’s stock.

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.