Rigetti Computing (NASDAQ:RGTI) Given New $27.00 Price Target at Mizuho

Rigetti Computing (NASDAQ:RGTI) had its target price lowered by Mizuho from $33.00 to $27.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a report on Thursday, March 5th. Wall Street Zen cut Rigetti Computing from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Benchmark lowered their target price on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating for the company in a report on Friday, March 20th. Northland Securities initiated coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 target price for the company. Finally, Royal Bank Of Canada cut Rigetti Computing to a “hold” rating in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.18.

Rigetti Computing Trading Down 7.0%

RGTI stock opened at $19.07 on Tuesday. The stock has a 50-day moving average price of $16.51 and a two-hundred day moving average price of $21.93. The stock has a market cap of $6.33 billion, a PE ratio of -21.92 and a beta of 1.79. Rigetti Computing has a 1 year low of $9.85 and a 1 year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative return on equity of 10.90% and a negative net margin of 2,789.71%.The company’s revenue was up 198.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, analysts forecast that Rigetti Computing will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the transaction, the chief financial officer owned 175,609 shares in the company, valued at $3,076,669.68. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Rivas sold 36,719 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $643,316.88. Following the completion of the transaction, the chief technology officer owned 651,914 shares of the company’s stock, valued at $11,421,533.28. The trade was a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rigetti Computing

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Rigetti Computing by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock valued at $796,750,000 after purchasing an additional 3,924,171 shares during the last quarter. State Street Corp lifted its stake in Rigetti Computing by 12.0% in the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after purchasing an additional 946,850 shares during the last quarter. Geode Capital Management LLC lifted its stake in Rigetti Computing by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock valued at $174,930,000 after purchasing an additional 196,891 shares during the last quarter. UBS Group AG lifted 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 purchasing an additional 1,467,483 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Rigetti Computing by 16.3% in the 3rd quarter. Northern Trust Corp now owns 2,846,095 shares of the company’s stock valued at $84,785,000 after purchasing an additional 397,905 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti beat first-quarter EPS and revenue estimates, with revenue nearly tripling year over year and gross margin improving. Rigetti Q1 Earnings & Revenues Beat Estimates, Gross Margin Up
• Positive Sentiment: The company reported strong year-over-year revenue growth and said it is continuing to scale its superconducting quantum systems and chiplet-based architecture. Rigetti Computing tops Q1 earnings estimates as loss narrows
• Neutral Sentiment: Needham reaffirmed a buy rating with a $31 price target, signaling continued analyst confidence despite volatility.
• Negative Sentiment: Mizuho cut its price target to $27 from $33, reflecting more cautious expectations for near-term upside. Benzinga report on Mizuho price target change
• Negative Sentiment: Shares are also being pressured by investor concern that, despite revenue growth, Rigetti remains deeply unprofitable and still dependent on future execution to justify its valuation.

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.