Rigetti Computing (NASDAQ:RGTI) Shares Up 5.4% After Analyst Upgrade

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) shot up 5.4% during trading on Thursday after B. Riley upgraded the stock from a neutral rating to a buy rating. B. Riley now has a $35.00 price target on the stock. Rigetti Computing traded as high as $25.50 and last traded at $24.96. 33,870,910 shares traded hands during trading, a decline of 2% from the average session volume of 34,595,875 shares. The stock had previously closed at $23.67.

Several other research firms also recently weighed in on RGTI. Jefferies Financial Group initiated coverage on shares of Rigetti Computing in a research note on Tuesday, December 16th. They issued a “hold” rating and a $30.00 price target for the company. Mizuho assumed coverage on Rigetti Computing in a research report on Thursday, December 11th. They issued an “outperform” rating and a $50.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Wednesday. Wedbush raised their price objective on Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Benchmark lowered their target price on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Key Rigetti Computing News

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.

Hedge Funds Weigh In On Rigetti Computing

Several large investors have recently bought and sold shares of the stock. Danske Bank A S bought a new position in shares of Rigetti Computing during the third quarter valued at about $30,000. Parallel Advisors LLC increased its stake in Rigetti Computing by 403.2% in the 3rd quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock valued at $32,000 after buying an additional 871 shares during the last quarter. Clearstead Advisors LLC bought a new position in shares of Rigetti Computing during the 3rd quarter worth approximately $35,000. Ancora Advisors LLC purchased a new position in shares of Rigetti Computing in the 3rd quarter worth approximately $38,000. Finally, Fifth Third Bancorp grew its holdings in shares of Rigetti Computing by 13,960.0% in the third quarter. Fifth Third Bancorp now owns 1,406 shares of the company’s stock valued at $42,000 after acquiring an additional 1,396 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.

Rigetti Computing Stock Down 6.0%

The stock has a 50-day moving average of $24.90 and a 200 day moving average of $25.30. The company has a market capitalization of $7.74 billion, a PE ratio of -18.04 and a beta of 1.70.

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