Rigetti Computing (NASDAQ:RGTI) Rating Increased to Strong-Buy at Benchmark

Benchmark upgraded shares of Rigetti Computing (NASDAQ:RGTI) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

RGTI has been the topic of a number of other reports. Mizuho lowered their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings raised shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Northland Securities initiated coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $15.64 on Monday. Rigetti Computing has a 1 year low of $12.53 and a 1 year high of $58.15. The firm has a market cap of $5.20 billion, a P/E ratio of -17.98 and a beta of 1.95. The stock has a fifty day moving average price of $19.63 and a two-hundred day moving average price of $18.60.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company’s quarterly revenue was up 198.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, research analysts predict that Rigetti Computing will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ray O. Johnson sold 122,188 shares of Rigetti Computing stock in a transaction on Monday, June 8th. The stock was sold at an average price of $21.30, for a total value of $2,602,604.40. Following the transaction, the director directly owned 171,273 shares in the company, valued at $3,648,114.90. The trade was a 41.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $22.95, for a total value of $84,501.90. Following the sale, the chief financial officer directly owned 171,927 shares in the company, valued at $3,945,724.65. This trade represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 728,901 shares of company stock worth $17,546,343 in the last three months. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Rigetti Computing

Several institutional investors and hedge funds have recently bought and sold shares of RGTI. Danske Bank A S acquired a new position in shares of Rigetti Computing in the third quarter worth about $30,000. Parallel Advisors LLC raised its holdings in shares of Rigetti Computing by 403.2% during the third quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock valued at $32,000 after acquiring an additional 871 shares during the period. Heritage Wealth Advisors lifted its position in shares of Rigetti Computing by 454.3% in the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock valued at $26,000 after acquiring an additional 954 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Rigetti Computing by 138.4% in the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after acquiring an additional 707 shares in the last quarter. Finally, EFG International AG acquired a new position in Rigetti Computing in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: HPE and Pittsburgh Supercomputing Center partnership: Rigetti will provide a 9-qubit Novera system for TangleLab, a hybrid quantum-classical supercomputing testbed funded by a $5 million National Science Foundation grant. The project strengthens Rigetti’s relationship with Hewlett Packard Enterprise and could help validate its technology with researchers, educators, and future enterprise customers. Construction is expected to begin in September, with operations targeted for 2027. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Sector-wide analyst support: Benchmark initiated or reiterated “Buy” ratings on Rigetti, IonQ, and D-Wave, arguing that expanding enterprise adoption could support multiple successful quantum-computing platforms rather than a single dominant company. Benchmark projects industry revenue of approximately $1.5 billion in 2026, improving sentiment toward quantum stocks. Quantum’s Tipping Point
• Positive Sentiment: Upcoming earnings catalyst: Investors will focus on Novera revenue, adoption of the Cepheus-1 platform, and progress toward improved qubit fidelity in Rigetti’s second-quarter report. These metrics could provide evidence that the company is advancing its roadmap toward quantum advantage. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Neutral Sentiment: Commercial progress remains early: Rigetti’s latest reported quarterly revenue was $4.4 million, although revenue grew nearly 199% year over year and the company exceeded analysts’ estimates. The business remains focused on pilots, grants, partnerships, and long-term technology milestones rather than established recurring revenue.
• Negative Sentiment: Profitability and valuation risks: Analysts and financial commentary continue to caution that meaningful quantum-computing profits may be years away. Rigetti remains loss-making, and its elevated market valuation leaves the stock sensitive to delays in product delivery, weaker adoption, or disappointing technical progress. Recent insider activity also showed sales by executives without reported purchases, a potential sentiment headwind.

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.