Rigetti Computing (NASDAQ:RGTI) Shares Down 6% – What’s Next?

Rigetti Computing, Inc. (NASDAQ:RGTI) traded down 6% during mid-day trading on Friday . The company traded as low as $23.26 and last traded at $23.45. 30,029,337 shares changed hands during trading, a decline of 12% from the average session volume of 34,296,766 shares. The stock had previously closed at $24.96.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: B. Riley upgraded RGTI from Neutral to Buy, which lifted the stock in prior sessions and signals renewed analyst optimism around growth prospects and execution. Rigetti rises after upgrade at B. Riley
• Positive Sentiment: Rosenblatt initiated coverage with a Buy rating and a $40 price target, praising Rigetti’s modular qubit-scaling approach and in-house fabrication — this adds another institutional bullish voice. Rosenblatt Initiates Coverage of Rigetti Computing (RGTI) Stock
• Positive Sentiment: Rigetti won an $8.4M order from India’s C?DAC for a 108?qubit system — a concrete commercial contract that validates near?term revenue potential and helped recent upward momentum. RGTI Stock To $50?
• Neutral Sentiment: Several analysts and articles suggest upside (one piece cites a ~40% rally potential), but these views depend on execution milestones and broader quantum market adoption; they are bullish in thesis but conditional. This Analyst Thinks Rigetti Stock Could Climb 40% — Should You Buy RGTI Now?
• Neutral Sentiment: Comparisons to peers (e.g., D?Wave) highlight differing roadmaps — gate?model vs. annealing/near?term commercialization — which makes RGTI a higher?upside, higher?risk choice depending on investor time horizon. Rigetti vs. D-Wave: Which Quantum Computing Stock Is the Better Pick?
• Negative Sentiment: Counterbalancing the optimism, commentary points to a “major disconnect with Wall Street” around valuation and execution risks; that skepticism can pressure shares when upbeat catalysts fade. Rigetti: Major Disconnect With Wall Street
• Negative Sentiment: Fundamentals remain a drag: very low revenue, declining top line vs. year-ago, and large negative margins/ROE — plus the stock sits below its 50? and 200?day averages — leaving RGTI vulnerable to profit?taking and broader market weakness.

Analyst Upgrades and Downgrades

RGTI has been the subject of several recent analyst reports. Royal Bank Of Canada cut Rigetti Computing to a “hold” rating in a research note on Thursday. Wedbush boosted their price objective on shares of Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Rigetti Computing in a report on Tuesday, December 16th. They issued a “hold” rating and a $30.00 target price for the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Rigetti Computing in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rigetti Computing in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rigetti Computing has an average rating of “Moderate Buy” and an average price target of $32.60.

Rigetti Computing Trading Down 6.0%

The business’s fifty day moving average price is $24.90 and its 200 day moving average price is $25.38. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of -18.04 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company 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% compared to the same quarter last year. As a group, sell-side analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Rigetti Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGTI. Vanguard Group Inc. grew its stake in shares of Rigetti Computing by 40.4% in the 3rd quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock valued at $954,665,000 after purchasing an additional 9,228,888 shares during the last quarter. State Street Corp lifted its holdings in shares of Rigetti Computing by 12.0% during the second quarter. State Street Corp now owns 8,853,006 shares of the company’s stock worth $104,997,000 after purchasing an additional 946,850 shares during the period. Marex Group plc purchased a new position in Rigetti Computing in the 2nd quarter valued at $87,414,000. Geode Capital Management LLC grew its position in Rigetti Computing by 22.9% in the 2nd quarter. Geode Capital Management LLC now owns 6,484,155 shares of the company’s stock valued at $76,910,000 after buying an additional 1,206,925 shares during the last quarter. Finally, UBS Group AG increased its stake in Rigetti Computing by 90.9% in the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock valued at $91,788,000 after buying an additional 1,467,483 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.

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.