FY2025 EPS Estimate for Rigetti Computing Boosted by Analyst

Rigetti Computing, Inc. (NASDAQ:RGTI) – Cantor Fitzgerald upped their FY2025 EPS estimates for shares of Rigetti Computing in a research note issued on Thursday, November 13th. Cantor Fitzgerald analyst T. Jensen now expects that the company will earn ($0.16) per share for the year, up from their prior estimate of ($0.29). 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 ($0.17) EPS.

Other research analysts have also recently issued research reports about the company. Williams Trading set a $40.00 price target on Rigetti Computing in a report on Tuesday, November 11th. Needham & Company LLC lifted their target price on Rigetti Computing from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rigetti Computing in a research report on Wednesday, October 8th. Benchmark reduced their target price on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, B. Riley dropped their price target on Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rigetti Computing has an average rating of “Moderate Buy” and an average target price of $25.43.

Rigetti Computing Price Performance

RGTI stock opened at $25.48 on Monday. The firm has a market cap of $8.26 billion, a PE ratio of -19.60 and a beta of 1.64. Rigetti Computing has a 12 month low of $1.28 and a 12 month high of $58.15. The firm has a 50 day simple moving average of $34.47 and a 200 day simple moving average of $20.85.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company 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% compared to the same quarter last year.

Insider Buying and Selling

In related news, Director Michael S. Clifton sold 75,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.00, for a total transaction of $1,425,000.00. Following the completion of the sale, the director directly owned 653,766 shares in the company, valued at approximately $12,421,554. This trade represents a 10.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helene Gail Sandford sold 62,000 shares of Rigetti Computing stock in a transaction on Friday, October 17th. The shares were sold at an average price of $44.89, for a total value of $2,783,180.00. Following the sale, the director directly owned 120,371 shares of the company’s stock, valued at approximately $5,403,454.19. The trade was a 34.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 454,204 shares of company stock worth $10,300,876.

Institutional Investors Weigh In On Rigetti Computing

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of 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 in the last quarter. Clearstead Advisors LLC acquired a new stake in Rigetti Computing in the third quarter valued at approximately $35,000. Ancora Advisors LLC acquired a new stake in Rigetti Computing in the third quarter valued at approximately $38,000. Fifth Third Bancorp grew its position in Rigetti Computing by 13,960.0% in the third quarter. Fifth Third Bancorp now owns 1,406 shares of the company’s stock worth $42,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Rigetti Computing by 194.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the company’s stock worth $45,000 after purchasing an additional 1,000 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

About Rigetti Computing

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.