Rigetti Computing (NASDAQ:RGTI) Upgraded by Benchmark to Strong-Buy Rating

Rigetti Computing (NASDAQ:RGTI) was upgraded by Benchmark to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on RGTI. Mizuho decreased their price target on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Rigetti Computing Trading Up 10.5%

Shares of RGTI stock opened at $15.64 on Monday. Rigetti Computing has a 12-month low of $12.53 and a 12-month high of $58.15. The stock’s 50-day moving average price is $19.63 and its 200-day moving average price is $18.60. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of -17.98 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last posted its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The firm’s revenue for the quarter was up 198.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. As a group, research analysts predict that Rigetti Computing will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In other news, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were 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 trade represents a 60.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray O. Johnson sold 122,188 shares of Rigetti Computing stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $21.30, for a total transaction of $2,602,604.40. Following the transaction, the director directly owned 171,273 shares of the company’s stock, valued at approximately $3,648,114.90. This represents a 41.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 728,901 shares of company stock worth $17,546,343 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGTI. Royal Bank of Canada lifted its stake in Rigetti Computing by 106.2% in the first quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after purchasing an additional 113,644 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Rigetti Computing by 138.9% in the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after buying an additional 47,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rigetti Computing by 25.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after buying an additional 22,770 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Rigetti Computing by 197.8% in the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after buying an additional 16,998 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing during the 1st quarter worth approximately $3,115,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: HPE and Pittsburgh Supercomputing Center partnership: Rigetti will provide a 9-qubit Novera system for TangleLab, a hybrid quantum-classical supercomputing testbed funded by a $5 million National Science Foundation grant. The project strengthens Rigetti’s relationship with Hewlett Packard Enterprise and could help validate its technology with researchers, educators, and future enterprise customers. Construction is expected to begin in September, with operations targeted for 2027. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Sector-wide analyst support: Benchmark initiated or reiterated “Buy” ratings on Rigetti, IonQ, and D-Wave, arguing that expanding enterprise adoption could support multiple successful quantum-computing platforms rather than a single dominant company. Benchmark projects industry revenue of approximately $1.5 billion in 2026, improving sentiment toward quantum stocks. Quantum’s Tipping Point
• Positive Sentiment: Upcoming earnings catalyst: Investors will focus on Novera revenue, adoption of the Cepheus-1 platform, and progress toward improved qubit fidelity in Rigetti’s second-quarter report. These metrics could provide evidence that the company is advancing its roadmap toward quantum advantage. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Neutral Sentiment: Commercial progress remains early: Rigetti’s latest reported quarterly revenue was $4.4 million, although revenue grew nearly 199% year over year and the company exceeded analysts’ estimates. The business remains focused on pilots, grants, partnerships, and long-term technology milestones rather than established recurring revenue.
• Negative Sentiment: Profitability and valuation risks: Analysts and financial commentary continue to caution that meaningful quantum-computing profits may be years away. Rigetti remains loss-making, and its elevated market valuation leaves the stock sensitive to delays in product delivery, weaker adoption, or disappointing technical progress. Recent insider activity also showed sales by executives without reported purchases, a potential sentiment headwind.

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.