Cantor Fitzgerald Brokers Cut Earnings Estimates for RGTI

Rigetti Computing, Inc. (NASDAQ:RGTI) – Investment analysts at Cantor Fitzgerald decreased their FY2025 EPS estimates for shares of Rigetti Computing in a report issued on Wednesday, August 13th. Cantor Fitzgerald analyst T. Jensen now anticipates that the company will earn ($0.29) per share for the year, down from their previous forecast of ($0.25). Cantor Fitzgerald currently has a “Overweight” rating and a $15.00 target price on the stock. The consensus estimate for Rigetti Computing’s current full-year earnings is ($0.34) per share. Cantor Fitzgerald also issued estimates for Rigetti Computing’s FY2026 earnings at ($0.22) EPS.

Other research analysts have also issued reports about the stock. Williams Trading set a $20.00 price objective on shares of Rigetti Computing in a report on Wednesday. Benchmark reiterated a “buy” rating and set a $20.00 price objective (up from $14.00) on shares of Rigetti Computing in a report on Wednesday. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a report on Wednesday, July 16th. Industrial Alliance Securities set a $18.00 price target on shares of Rigetti Computing in a report on Wednesday, July 16th. Finally, B. Riley raised their price target on shares of Rigetti Computing from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rigetti Computing presently has a consensus rating of “Buy” and a consensus target price of $17.43.

Rigetti Computing Price Performance

Shares of RGTI stock opened at $16.65 on Friday. The firm has a market cap of $4.83 billion, a P/E ratio of -21.91 and a beta of 1.44. Rigetti Computing has a 1-year low of $0.66 and a 1-year high of $21.42. The firm’s 50-day simple moving average is $13.83 and its 200-day simple moving average is $11.49.

Insider Buying and Selling

In other news, Director Ray O. Johnson sold 40,420 shares of Rigetti Computing stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $15.00, for a total transaction of $606,300.00. Following the sale, the director owned 419,756 shares in the company, valued at $6,296,340. This trade represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael S. Clifton sold 25,000 shares of Rigetti Computing stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $15.00, for a total transaction of $375,000.00. Following the sale, the director owned 853,766 shares in the company, valued at $12,806,490. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Rigetti Computing

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Rigetti Computing by 20.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,000 shares of the company’s stock worth $71,000 after buying an additional 1,000 shares during the last quarter. IFP Advisors Inc increased its stake in Rigetti Computing by 146.1% during the second quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock valued at $26,000 after purchasing an additional 1,300 shares during the last quarter. California State Teachers Retirement System increased its stake in Rigetti Computing by 12.7% during the fourth quarter. California State Teachers Retirement System now owns 11,551 shares of the company’s stock valued at $176,000 after purchasing an additional 1,301 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in Rigetti Computing by 9.8% during the second quarter. Stratos Wealth Partners LTD. now owns 15,048 shares of the company’s stock valued at $178,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its stake in Rigetti Computing by 35.5% during the second quarter. Center for Financial Planning Inc. now owns 5,137 shares of the company’s stock valued at $61,000 after purchasing an additional 1,345 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Company Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.