FY2025 EPS Estimate for Rigetti Computing Boosted by Analyst

Rigetti Computing, Inc. (NASDAQ:RGTI) – Analysts at Cantor Fitzgerald raised their FY2025 EPS estimates for shares of Rigetti Computing in a research note issued to investors on Thursday, November 13th. Cantor Fitzgerald analyst T. Jensen now anticipates that the company will earn ($0.16) per share for the year, up from their prior forecast 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.

Rigetti Computing (NASDAQ:RGTI) last announced its earnings results on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $1.95 million for the quarter, compared to analyst estimates of $2.17 million. Rigetti Computing had a negative return on equity of 21.98% and a negative net margin of 4,741.49%.The firm’s revenue was down 18.1% on a year-over-year basis.

RGTI has been the subject of a number of other research reports. Needham & Company LLC raised their price target on shares of Rigetti Computing from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. B. Riley reduced their price objective on shares of Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Rigetti Computing in a research report on Wednesday, October 8th. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a research note on Tuesday, November 11th. Finally, Benchmark reduced their price target on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rigetti Computing has a consensus rating of “Moderate Buy” and an average target price of $25.43.

Rigetti Computing Stock Down 3.1%

Shares of NASDAQ RGTI opened at $24.69 on Monday. Rigetti Computing has a fifty-two week low of $1.28 and a fifty-two week high of $58.15. The business has a 50 day moving average price of $34.66 and a two-hundred day moving average price of $20.96. The firm has a market cap of $8.00 billion, a PE ratio of -18.99 and a beta of 1.64.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, Director Helene Gail Sandford sold 62,000 shares of the firm’s stock in a transaction on Friday, October 17th. The stock was 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 in the company, valued at approximately $5,403,454.19. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey A. Bertelsen sold 3,919 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $14.84, for a total transaction of $58,157.96. Following the transaction, the chief financial officer owned 183,581 shares of the company’s stock, valued at $2,724,342.04. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 454,204 shares of company stock valued at $10,300,876 over the last three months.

Institutional Investors Weigh In On Rigetti Computing

Several large investors have recently made changes to their positions in RGTI. Vanguard Group Inc. boosted its position in shares of Rigetti Computing by 40.4% during the third quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock worth $954,665,000 after buying an additional 9,228,888 shares during the period. State Street Corp raised its stake in Rigetti Computing by 12.0% during the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after acquiring an additional 946,850 shares in the last quarter. Marex Group plc acquired a new position in Rigetti Computing during the 2nd quarter worth $87,414,000. Geode Capital Management LLC grew its stake in shares of Rigetti Computing by 22.9% in the second quarter. Geode Capital Management LLC now owns 6,484,155 shares of the company’s stock worth $76,910,000 after purchasing an additional 1,206,925 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Rigetti Computing by 90.9% during the third quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock valued at $91,788,000 after purchasing an additional 1,467,483 shares during the period. Institutional investors and hedge funds 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.