Rigetti Computing (NASDAQ:RGTI) Price Target Lowered to $31.00 at Needham & Company LLC

Rigetti Computing (NASDAQ:RGTI) had its price target dropped by stock analysts at Needham & Company LLC from $51.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 74.55% from the stock’s previous close.

Several other analysts also recently weighed in on RGTI. Wall Street Zen downgraded shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Royal Bank Of Canada lowered Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Jefferies Financial Group began coverage on Rigetti Computing in a research note on Tuesday, December 16th. They issued a “hold” rating and a $30.00 price objective for the company. Mizuho assumed coverage on Rigetti Computing in a research note on Thursday, December 11th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, B. Riley Financial raised Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.20.

Rigetti Computing Trading Up 4.7%

NASDAQ RGTI opened at $17.76 on Thursday. The stock has a fifty day simple moving average of $20.49 and a 200-day simple moving average of $25.81. The stock has a market cap of $5.86 billion, a PE ratio of -13.66 and a beta of 1.71. Rigetti Computing has a twelve month low of $6.86 and a twelve month high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last posted its earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $1.87 million for the quarter, compared to analysts’ expectations of $2.33 million. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The business’s revenue was down 17.9% compared to the same quarter last year. Research analysts predict that Rigetti Computing will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Rigetti Computing

A number of large investors have recently modified their holdings of the company. Heritage Wealth Advisors lifted its position in shares of Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Rigetti Computing by 138.4% during the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after buying an additional 707 shares during the last quarter. EFG International AG purchased a new position in shares of Rigetti Computing in the 4th quarter valued at about $28,000. Tsfg LLC boosted its holdings in Rigetti Computing by 320.5% in the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Rigetti Computing by 180.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company’s stock valued at $30,000 after purchasing an additional 858 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Rigetti Computing News Summary

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

• Positive Sentiment: Confirmed customer orders and backlog: Rigetti announced an ~ $8.4M purchase order from India’s C‑DAC for a 108‑qubit on‑premises system and has ~$5.7M of Novera on‑premises orders that the company expects to start shipping in Q1, supporting near‑term revenue upside. Quiver AI / Press Release
• Positive Sentiment: Technology milestones reinforce long‑term thesis: Rigetti reported very high gate fidelities (two‑qubit up to 99.9% on a prototype, median two‑qubit fidelities ~99%‑99.7% across systems) and demonstrated chiplet tiling as a scalable architecture — progress that investors view as validation of the company’s product roadmap. GlobeNewswire Press Release
• Positive Sentiment: Strong liquidity position: Cash, cash equivalents and available‑for‑sale investments totaled roughly $590M at year‑end, giving the company runway to continue R&D and fulfill order shipments. Quiver AI / Press Release
• Neutral Sentiment: Earnings call and investor commentary highlighted technical progress and roadmap execution while management guided to Q1 year‑over‑year revenue growth driven by shipments — but provided no material upside to near‑term profitability. Yahoo Finance: Earnings Call Highlights
• Neutral Sentiment: Industry/partnership momentum: Coverage notes partnerships (NVIDIA, Riverlane, Quanta, QphoX) and strategic positioning for hybrid classical‑quantum deployments — supportive for long‑term market share but not an immediate revenue fix. Zacks: Partnerships & Orders
• Negative Sentiment: Revenue miss and declining top line: Q4 revenue was $1.87–1.9M (down ~18% YoY) vs. analyst estimates near $2.33M, and the company flagged revenue pressure — a clear near‑term negative for valuation. Yahoo Finance: Q4 Loss, Lags Revenue Estimates
• Negative Sentiment: Large operating and GAAP net losses: Q4 operating loss widened to $22.6M and 2025 GAAP net loss was ~$216M; non‑GAAP losses are smaller but the company remains unprofitable, keeping valuation tied to future technical execution and order conversion. GlobeNewswire Press Release
• Negative Sentiment: Market reaction and insider selling: Coverage notes the stock dropped after earnings and Quiver highlights extensive insider sales in recent months, which can weigh on sentiment. Barron’s: Stock Falls After Earnings

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.