Rigetti Computing (NASDAQ:RGTI) Trading Down 4.1% – Here’s Why

Rigetti Computing, Inc. (NASDAQ:RGTI) was down 4.1% during mid-day trading on Tuesday . The stock traded as low as $16.24 and last traded at $16.96. Approximately 28,944,865 shares were traded during trading, a decline of 8% from the average daily volume of 31,627,061 shares. The stock had previously closed at $17.69.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Technical milestones and customer orders support long‑term growth — Rigetti reported very high gate‑fidelity results (up to 99.9% two‑qubit fidelity on prototypes) and reiterated progress toward a 108‑qubit chiplet system; it also announced an ~ $8.4M purchase order from India’s C‑DAC and other on‑premises orders. Rigetti press release
• Positive Sentiment: Cash runway looks healthy near term — the company reported cash, cash equivalents and available‑for‑sale investments of ~$589.8M as of Dec‑31, 2025, which reduces near‑term financing risk while it scales R&D and deployments. Quiver summary
• Neutral Sentiment: Analysts remain constructive but trimmed targets — multiple firms reaffirmed buy/outperform ratings while lowering price targets (e.g., Benchmark cut to $35, Mizuho to $43, Needham to $31; Rosenblatt reiterated $40). That keeps bullish upside on the tape despite reduced near‑term expectations. Benzinga analyst notes
• Negative Sentiment: Revenue missed estimates and declined year‑over‑year — Q4 revenue of ~$1.87M came in below consensus (~$2.3M), and full‑year revenue fell to $7.1M. Lower sales compared with expectations is the primary near‑term negative catalyst. Yahoo Finance: Revenue miss
• Negative Sentiment: Widening operating losses and margin pressure — Q4 operating loss was ~$22.6M and full‑year GAAP net loss was large ($216.2M), driven by rising R&D and operating expenses; investors penalized the stock for deteriorating near‑term profitability and tighter margins. Seeking Alpha: Market reaction

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. TD Cowen downgraded Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Royal Bank Of Canada lowered shares of Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Needham & Company LLC reduced their price objective on shares of Rigetti Computing from $51.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Rigetti Computing in a research report on Tuesday, December 16th. They set a “hold” rating and a $30.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Rigetti Computing Price Performance

The company has a market cap of $5.60 billion, a price-to-earnings ratio of -13.05 and a beta of 1.71. The business’s 50-day simple moving average is $20.49 and its 200-day simple moving average is $25.81.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $2.33 million. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Institutional Trading of Rigetti Computing

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Rigetti Computing by 40.4% in the 3rd quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock valued at $954,665,000 after purchasing an additional 9,228,888 shares during the last quarter. Marex Group plc purchased a new stake in shares of Rigetti Computing during the second quarter worth about $87,414,000. Victory Capital Management Inc. raised its position in shares of Rigetti Computing by 1,632.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock valued at $56,954,000 after buying an additional 2,422,873 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Rigetti Computing during the second quarter valued at approximately $21,887,000. Finally, Norges Bank acquired a new stake in Rigetti Computing during the fourth quarter worth approximately $38,889,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

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.