Benchmark Cuts Rigetti Computing (NASDAQ:RGTI) Price Target to $35.00

Rigetti Computing (NASDAQ:RGTI) had its price objective decreased by Benchmark from $40.00 to $35.00 in a research report released on Thursday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other research firms have also recently issued reports on RGTI. Mizuho lowered their price objective on Rigetti Computing from $50.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday. Williams Trading set a $40.00 target price on Rigetti Computing in a report on Tuesday, November 11th. Needham & Company LLC decreased their price target on Rigetti Computing from $51.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday. B. Riley Financial raised Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Thursday, January 22nd. Finally, TD Cowen downgraded Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $17.01 on Thursday. The company has a 50-day simple moving average of $20.24 and a two-hundred day simple moving average of $25.82. The stock has a market capitalization of $5.61 billion, a PE ratio of -25.01 and a beta of 1.71. Rigetti Computing has a 52-week low of $6.86 and a 52-week high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $1.87 million for the quarter, compared to analysts’ expectations of $2.33 million. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business’s revenue was down 17.9% on a year-over-year basis. As a group, equities research analysts forecast that Rigetti Computing will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Rigetti Computing

Several hedge funds and other institutional investors have recently modified their holdings of RGTI. Danske Bank A S bought a new stake in Rigetti Computing during the third quarter valued at about $30,000. Parallel Advisors LLC increased its position in Rigetti Computing by 403.2% in the third quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock worth $32,000 after buying an additional 871 shares in the last quarter. Clearstead Advisors LLC bought a new position in shares of Rigetti Computing in the third quarter worth about $35,000. Heritage Wealth Advisors raised its stake in shares of Rigetti Computing by 454.3% in the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after buying an additional 954 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Rigetti Computing by 138.4% during the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after buying an additional 707 shares in the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Management highlighted technical progress (including work toward larger qubit systems such as a 108‑qubit roadmap) and other R&D milestones that support the company’s long‑term growth narrative. Earnings Call Highlights
• Positive Sentiment: Rigetti beat EPS estimates for Q4 (reported -$0.03 vs. consensus -$0.05), narrowing losses year‑over‑year — a data point some investors view as evidence of improving unit economics if operating costs are controlled. Zacks: Q4 Results
• Positive Sentiment: Analyst coverage remains constructive: several firms reaffirmed buy/outperform ratings or maintained large upside price targets (Rosenblatt, Benchmark, Mizuho, Needham), signaling continued institutional conviction despite the quarter. Analyst Reaction / Upside Notes
• Neutral Sentiment: Broader industry optimism persists — Wall Street continues to treat quantum pure‑plays as early‑stage, high‑upside thematic investments even as trajectories remain uncertain; that macro sentiment can buffer short‑term weakness. Industry Primer
• Neutral Sentiment: New entrants and rival moves matter: a competing firm (Horizon Quantum) is set to go public via a SPAC, which could change competitive dynamics and investor comparisons in the near term. Competitor IPO
• Negative Sentiment: Revenue miss and margin pressure: Q4 revenue of ~$1.87M fell well short of analyst estimates (consensus ~\$2.3M), revenue declined year‑over‑year and operating losses widened as opex rose — the principal reason shares sold off after the print. Revenue Miss & Margins
• Negative Sentiment: Near‑term sentiment turned negative as investors and some desks pared outlooks and digested the revenue shortfall; several headlines and trading desks noted the stock slid after the report. Market Reaction

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.