Needham & Company LLC Cuts Rigetti Computing (NASDAQ:RGTI) Price Target to $31.00

Rigetti Computing (NASDAQ:RGTI) had its target price reduced by Needham & Company LLC from $51.00 to $31.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on RGTI. Wedbush increased their price target on shares of Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Benchmark lowered their price objective on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a research note on Tuesday, November 11th. Williams Trading set a $40.00 target price on Rigetti Computing in a report on Tuesday, November 11th. Finally, Mizuho assumed coverage on Rigetti Computing in a research note on Thursday, December 11th. They issued an “outperform” rating and a $50.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rigetti Computing presently has an average rating of “Moderate Buy” and an average price target of $32.70.

Rigetti Computing Stock Performance

Shares of RGTI stock opened at $17.01 on Thursday. Rigetti Computing has a one year low of $6.86 and a one year high of $58.15. The company’s 50-day moving average is $20.24 and its 200 day moving average is $25.82. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of -25.01 and a beta of 1.71.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $1.87 million during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, research analysts predict that Rigetti Computing will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC boosted its holdings in Rigetti Computing by 26.1% in the third quarter. Rothschild Investment LLC now owns 1,665 shares of the company’s stock worth $50,000 after purchasing an additional 345 shares during the last quarter. Trust Co. of Toledo NA OH raised its stake in Rigetti Computing by 1.7% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 21,178 shares of the company’s stock valued at $631,000 after buying an additional 357 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Rigetti Computing by 1.0% during the 3rd quarter. Prospera Financial Services Inc now owns 41,789 shares of the company’s stock valued at $1,245,000 after buying an additional 419 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Rigetti Computing by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company’s stock valued at $831,000 after buying an additional 535 shares during the period. Finally, MAI Capital Management boosted its stake in shares of Rigetti Computing by 17.7% in the 3rd quarter. MAI Capital Management now owns 3,763 shares of the company’s stock worth $112,000 after buying an additional 566 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

More Rigetti Computing News

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

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.