Rigetti Computing (NASDAQ:RGTI) Stock Price Down 4.4% Following Analyst Downgrade

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) were down 4.4% during mid-day trading on Thursday after Benchmark lowered their price target on the stock from $40.00 to $35.00. Benchmark currently has a buy rating on the stock. Rigetti Computing traded as low as $15.94 and last traded at $16.97. Approximately 41,670,455 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 31,685,047 shares. The stock had previously closed at $17.76.

Several other equities analysts have also recently weighed in on the company. Mizuho dropped their price objective on Rigetti Computing from $50.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday. Williams Trading set a $40.00 price target on Rigetti Computing in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rigetti Computing in a research report on Monday, December 29th. Jefferies Financial Group began coverage on shares of Rigetti Computing in a research note on Tuesday, December 16th. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Key Rigetti Computing News

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

• Positive Sentiment: Technical milestones and customer orders support long?term growth — Rigetti reported very high gate?fidelity results (up to 99.9% two?qubit fidelity on prototypes) and reiterated progress toward a 108?qubit chiplet system; it also announced an ~ $8.4M purchase order from India’s C?DAC and other on?premises orders. Rigetti press release
• Positive Sentiment: Cash runway looks healthy near term — the company reported cash, cash equivalents and available?for?sale investments of ~$589.8M as of Dec?31, 2025, which reduces near?term financing risk while it scales R&D and deployments. Quiver summary
• Neutral Sentiment: Analysts remain constructive but trimmed targets — multiple firms reaffirmed buy/outperform ratings while lowering price targets (e.g., Benchmark cut to $35, Mizuho to $43, Needham to $31; Rosenblatt reiterated $40). That keeps bullish upside on the tape despite reduced near?term expectations. Benzinga analyst notes
• Negative Sentiment: Revenue missed estimates and declined year?over?year — Q4 revenue of ~$1.87M came in below consensus (~$2.3M), and full?year revenue fell to $7.1M. Lower sales compared with expectations is the primary near?term negative catalyst. Yahoo Finance: Revenue miss
• Negative Sentiment: Widening operating losses and margin pressure — Q4 operating loss was ~$22.6M and full?year GAAP net loss was large ($216.2M), driven by rising R&D and operating expenses; investors penalized the stock for deteriorating near?term profitability and tighter margins. Seeking Alpha: Market reaction

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors grew its stake in shares of Rigetti Computing by 454.3% during the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after buying an additional 954 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Rigetti Computing by 138.4% during the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after acquiring an additional 707 shares in the last quarter. EFG International AG bought a new stake in Rigetti Computing during the 4th quarter worth $28,000. Tsfg LLC increased its holdings in Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position 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. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Price Performance

The firm has a 50-day simple moving average of $20.49 and a 200 day simple moving average of $25.81. The stock has a market capitalization of $5.60 billion, a P/E ratio of -13.05 and a beta of 1.71.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $1.87 million during the quarter, compared to the consensus estimate of $2.33 million. Rigetti Computing had a negative return on equity of 21.98% and a negative net margin of 4,741.49%.The company’s quarterly revenue was down 17.9% compared to the same quarter last year. Sell-side analysts anticipate that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

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.