Rigetti Computing (NASDAQ:RGTI) Shares Up 10.5% – What’s Next?

Rigetti Computing, Inc. (NASDAQ:RGTI)’s share price shot up 10.5% on Monday . The stock traded as high as $16.12 and last traded at $15.64. Approximately 30,302,235 shares traded 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.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti announced an expanded collaboration with Hewlett Packard Enterprise (HPE) and the Pittsburgh Supercomputing Center to build TangleLab, a hybrid quantum-classical supercomputing testbed. Rigetti will supply a 9-qubit Novera system, funded by a $5 million National Science Foundation grant. Construction is expected to begin in September, with operations targeted for 2027. The project could strengthen Rigetti’s credibility in quantum-HPC integration and lead to additional institutional or government opportunities. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Benchmark initiated or reiterated “Buy” ratings across several quantum companies, including RGTI, arguing that expanding enterprise adoption could support multiple hardware platforms rather than producing a single winner. The analyst estimated the quantum industry could generate approximately $1.5 billion in revenue in 2026, improving sentiment toward the group. Quantum’s Tipping Point: Why IonQ, D-Wave, and Rigetti Stocks Are Buys
• Positive Sentiment: A larger industry rally followed D-Wave’s expanded agreement with AT&T to deploy quantum systems in network operations, reinforcing expectations that major corporations are beginning to test practical quantum applications. This lifted sentiment toward RGTI and other quantum-computing stocks. D-Wave Rises on Expanded AT&T Deal
• Neutral Sentiment: Investors are awaiting Rigetti’s upcoming second-quarter results for evidence of Novera sales, Cepheus-1 adoption, and progress toward improved qubit fidelity. The report could validate—or challenge—the company’s technology roadmap. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Negative Sentiment: Commentary continues to highlight that Rigetti’s revenue remains small and tied largely to pilots, grants, and collaborations. Analysts and investors question how quickly quantum systems can produce meaningful profits, while the company remains loss-making and trades at a valuation dependent on long-term execution. Reports also indicate that insiders have sold shares without recorded open-market purchases during the past six months, adding a modest cautionary signal.

Wall Street Analyst Weigh In

RGTI has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Benchmark assumed coverage on Rigetti Computing in a report on Monday. They set a “buy” rating and a $25.00 target price for the company. Northland Securities started coverage on Rigetti Computing in a research report on Monday, April 20th. They set a “market perform” rating and a $20.00 price target on the stock. Mizuho decreased their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Rigetti Computing Trading Up 10.5%

The business’s fifty day simple moving average is $19.65 and its 200-day simple moving average is $18.67. The firm has a market cap of $5.20 billion, a P/E ratio of -17.98 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $4.40 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 198.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. Analysts anticipate that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, Director Ray O. Johnson sold 122,188 shares of the 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 sale, the director owned 171,273 shares in the company, valued at approximately $3,648,114.90. This trade represents a 41.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Rivas sold 499,328 shares of Rigetti Computing stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.40, for a total value of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares in the company, valued at approximately $8,279,003. This represents a 60.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 728,901 shares of company stock worth $17,546,343 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGTI. Vanguard Group Inc. raised its holdings in Rigetti Computing by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock worth $796,750,000 after purchasing an additional 3,924,171 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Rigetti Computing by 1,632.5% during the 4th quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock valued at $56,954,000 after purchasing an additional 2,422,873 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Rigetti Computing during the 2nd quarter valued at about $21,887,000. Norges Bank purchased a new position in shares of Rigetti Computing during the fourth quarter valued at about $38,889,000. Finally, Defiance ETFs LLC purchased a new position in shares of Rigetti Computing during the fourth quarter valued at about $34,267,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

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.