Rigetti Computing (NASDAQ:RGTI) Trading 5.4% Higher After Analyst Upgrade

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) traded up 5.4% 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 changed 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 have also commented on RGTI. Williams Trading set a $40.00 price target on shares of Rigetti Computing in a report on Tuesday, November 11th. Benchmark cut their target price on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Jefferies Financial Group initiated coverage on Rigetti Computing in a report on Tuesday, December 16th. They set a “hold” rating and a $30.00 target price for the company. Wedbush increased their price target on Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Mizuho initiated coverage on Rigetti Computing in a research report on Thursday, December 11th. They set an “outperform” rating and a $50.00 price objective for the company. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

More 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 is the primary near‑term catalyst lifting the stock as momentum traders and funds react to the rating change. What’s Happening With Rigetti Computing Stock Thursday? Rigetti rises after upgrade at B Riley
• Positive Sentiment: Wedbush raised its price target to $40 and moved to an “Outperform” rating, signaling institutional confidence in longer‑term upside and likely supporting further buying interest. Wedbush raises PT to $40
• Positive Sentiment: Rosenblatt reaffirmed a Buy rating and a $40 target, reinforcing the narrative of analyst conviction around future value capture in gate‑based quantum development. Rosenblatt reaffirms buy
• Neutral Sentiment: Comparative analyst coverage (Zacks) frames RGTI versus peers like D‑Wave (QBTS), highlighting RGTI’s gate‑based, long‑term ambition versus rivals’ nearer‑term commercial approaches — useful for investors weighing risk/return horizons. Rigetti vs. D‑Wave: Which Quantum Computing Stock Is the Better Pick?
• Neutral Sentiment: A Yahoo Finance piece notes a delay in Rigetti’s quantum roadmap but also an India deployment deal — together these items create mixed near‑term headlines (delay is a headwind; the deployment deal is incremental validation). Investors should watch execution updates closely. What Rigetti Computing (RGTI)’s Quantum Roadmap Delay and India Deployment Deal Means For Shareholders

Hedge Funds Weigh In On Rigetti Computing

Several large investors have recently bought and sold shares of RGTI. Flagship Harbor Advisors LLC bought a new stake in shares of Rigetti Computing during the 4th quarter worth about $206,000. Harbor Capital Advisors Inc. acquired a new position in shares of Rigetti Computing during the fourth quarter valued at approximately $365,000. Genesis Financial Group LLC acquired a new position in shares of Rigetti Computing during the fourth quarter valued at approximately $341,000. Keystone Financial Group Inc. bought a new stake in Rigetti Computing during the fourth quarter worth approximately $44,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Rigetti Computing in the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Stock Performance

The stock has a market capitalization of $8.24 billion, a P/E ratio of -19.20 and a beta of 1.70. The business has a 50 day simple moving average of $24.94 and a 200-day simple moving average of $25.23.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.95 million for the quarter, compared to the consensus estimate of $2.17 million. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. Equities research analysts forecast that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

About Rigetti Computing

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.