Rosenblatt Securities Initiates Coverage on Rigetti Computing (NASDAQ:RGTI)

Rosenblatt Securities assumed coverage on shares of Rigetti Computing (NASDAQ:RGTI) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $40.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 56.29% from the company’s current price.

Several other brokerages have also commented on RGTI. Wedbush initiated coverage on Rigetti Computing in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price target on the stock. Benchmark cut their price objective on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Williams Trading set a $40.00 target price on shares of Rigetti Computing in a research note on Tuesday, November 11th. Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a research report on Tuesday, November 11th. Finally, Jefferies Financial Group assumed coverage on shares of Rigetti Computing in a report on Tuesday, December 16th. They set a “hold” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rigetti Computing currently has an average rating of “Moderate Buy” and an average target price of $32.10.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $25.59 on Thursday. The firm has a market cap of $8.45 billion, a P/E ratio of -19.69 and a beta of 1.70. The firm’s 50-day simple moving average is $25.32 and its 200-day simple moving average is $24.90. Rigetti Computing has a twelve month low of $6.86 and a twelve month high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $1.95 million during the quarter, compared to analysts’ expectations of $2.17 million. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company’s quarterly revenue was down 18.1% on a year-over-year basis. On average, equities analysts forecast that Rigetti Computing will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rigetti Computing

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Rigetti Computing by 40.4% in the third quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock valued at $954,665,000 after acquiring an additional 9,228,888 shares during the last quarter. Marex Group plc acquired a new position in Rigetti Computing during the 2nd quarter valued at about $87,414,000. Ameriprise Financial Inc. bought a new position in shares of Rigetti Computing in the 2nd quarter valued at about $21,887,000. Clear Street Group Inc. acquired a new stake in shares of Rigetti Computing during the 3rd quarter worth approximately $47,752,000. Finally, UBS Group AG raised its stake in shares of Rigetti Computing by 90.9% during the third quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock worth $91,788,000 after buying an additional 1,467,483 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy and a $40 price target (roughly 56% upside from recent levels), citing conviction in quantum names; that initiation and related press (Barron’s, Benzinga, Globe and Mail/MSN pickups) is a major bullish catalyst lifting sentiment. Rosenblatt Buy Coverage (Barron’s)
• Positive Sentiment: Rosenblatt also issued a “strong‑buy” tone in subsequent notes and media pickups, reinforcing the initial upside thesis and likely contributing to intraday buying pressure. Zacks: Rosenblatt strong-buy
• Positive Sentiment: Mizuho reiterated its Buy rating, adding to the cluster of broker support that can attract momentum and institutional interest. Mizuho Buy Hold
• Positive Sentiment: Analyst roundups show multiple firms publicly bullish or covering RGTI, which increases visibility and can mechanically raise demand for the shares. Analyst roundup (Benzinga)
• Neutral Sentiment: Sector comparison pieces (QBTS, IONQ, RGTI) ahead of Q4 earnings highlight differing fundamentals across quantum players; these previews raise focus on upcoming results but don’t change the thesis until numbers/guidance arrive. Q4 earnings preview (Zacks)
• Negative Sentiment: Short-term technical/price pressure: reports flagged a recent daily decline and “stock falls amid market uptick,” signaling that despite positive coverage the shares have experienced near-term volatility. Recent pullback note (Zacks)
• Negative Sentiment: A critical take from Seeking Alpha calls RGTI “a falling knife,” stressing weak revenue trends, negative margins and execution risk — the kind of analysis that can dampen conviction among value‑oriented investors ahead of quarterly results. Critical analysis (Seeking Alpha)

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.