Rigetti Computing (NASDAQ:RGTI) Shares Up 6.9% – What’s Next?

Rigetti Computing, Inc. (NASDAQ:RGTI)’s share price was up 6.9% during mid-day trading on Friday . The company traded as high as $17.30 and last traded at $17.18. 7,390,312 shares changed hands during trading, a decline of 77% from the average session volume of 32,257,225 shares. The stock had previously closed at $16.07.

Key Rigetti Computing News

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

• Positive Sentiment: Rigetti’s second-quarter 2026 revenue rose 185.3% year over year to $5.14 million, driven largely by Novera hardware sales and slightly exceeding analyst expectations. The company also reported a U.S. Department of Commerce letter of intent for up to $100 million in quantum R&D support, alongside commercial deliveries involving partners such as Nvidia and HPE. Quantum revenue and R&D support
• Positive Sentiment: The company established a dedicated Systems Delivery organization to address increased demand for on-premises quantum systems. David Rivas became chief operating officer, while Andrew Bestwick became chief technology officer, with responsibility for processor and chip development. Management expects the structure to improve customer execution and support its roadmap, including a 99.5% median two-qubit gate-fidelity target for Cepheus-1-108Q. Systems delivery reorganization
• Neutral Sentiment: Rigetti’s reported quarterly loss widened substantially despite the revenue growth, underscoring that the company remains unprofitable. Its roughly $541 million liquidity balance provides funding for development and expansion, but investors will focus on whether future system deliveries can improve operating leverage.
• Neutral Sentiment: Board member Dr. Ray Johnson is expected to resign. The announcement adds to investor attention on governance and management continuity, although no strategic change was disclosed. Board member resignation
• Negative Sentiment: Zacks Research downgraded RGTI from “hold” to “strong sell.” Separate analysis highlights customer concentration and a valuation near 100 times sales, leaving the stock vulnerable if growth or deliveries disappoint. Zacks valuation analysis
• Negative Sentiment: The CFO, COO and CTO each sold shares to cover tax withholding tied to vested equity awards. The sales were small relative to their remaining holdings, but the lack of reported insider purchases adds to cautious sentiment.
• Negative Sentiment: Quantum-computing stocks experienced a broad sector selloff, with no company-specific catalyst cited for the decline. This highlights the category’s elevated volatility and risk appetite sensitivity. Quantum stock selloff

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RGTI shares. Zacks Research lowered Rigetti Computing from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Benchmark initiated coverage on Rigetti Computing in a report on Monday, July 27th. They issued a “buy” rating and a $25.00 target price for the company. Wall Street Zen cut Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research note on Friday, August 7th. Finally, Mizuho cut their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.67.

Rigetti Computing Price Performance

The business’s 50 day moving average is $17.44 and its 200-day moving average is $17.73. The company has a market cap of $5.91 billion, a PE ratio of -19.67 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.50%. The company had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $5.09 million. As a group, sell-side analysts predict that Rigetti Computing, Inc. will post -0.27 EPS for the current fiscal year.

Insider Activity

In related news, CTO Andrew Joseph Bestwick sold 5,791 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.81, for a total value of $97,346.71. Following the transaction, the chief technology officer owned 1,036,121 shares of the company’s stock, valued at $17,417,194.01. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey A. Bertelsen sold 3,860 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.89, for a total value of $65,195.40. Following the completion of the sale, the chief financial officer owned 168,067 shares in the company, valued at approximately $2,838,651.63. This represents a 2.25% 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 sold a total of 725,149 shares of company stock valued at $17,345,425 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Clear Street Group Inc. boosted its stake in shares of Rigetti Computing by 71.1% during the fourth quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock worth $60,761,000 after buying an additional 1,140,183 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Rigetti Computing by 105.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock valued at $1,733,000 after acquiring an additional 63,331 shares during the period. Intech Investment Management LLC increased its position in Rigetti Computing by 66.3% in the 4th quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock valued at $2,664,000 after acquiring an additional 47,935 shares during the period. Spear Advisors LLC purchased a new stake in Rigetti Computing during the 4th quarter valued at approximately $2,062,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Rigetti Computing during the 4th quarter valued at approximately $4,937,000. 35.38% of the stock is owned by institutional investors and hedge funds.

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.