Rigetti Computing (NASDAQ:RGTI) Stock Price Up 3.6% – Here’s Why

Rigetti Computing, Inc. (NASDAQ:RGTI) shares were up 3.6% during mid-day trading on Friday . The company traded as high as $26.18 and last traded at $25.5940. Approximately 33,655,488 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 32,383,746 shares. The stock had previously closed at $24.70.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy and a $40 price target (roughly 56% upside from recent levels), citing conviction in quantum names; that initiation and related press (Barron’s, Benzinga, Globe and Mail/MSN pickups) is a major bullish catalyst lifting sentiment. Rosenblatt Buy Coverage (Barron’s)
• Positive Sentiment: Rosenblatt also issued a “strong‑buy” tone in subsequent notes and media pickups, reinforcing the initial upside thesis and likely contributing to intraday buying pressure. Zacks: Rosenblatt strong-buy
• Positive Sentiment: Mizuho reiterated its Buy rating, adding to the cluster of broker support that can attract momentum and institutional interest. Mizuho Buy Hold
• Positive Sentiment: Analyst roundups show multiple firms publicly bullish or covering RGTI, which increases visibility and can mechanically raise demand for the shares. Analyst roundup (Benzinga)
• Neutral Sentiment: Sector comparison pieces (QBTS, IONQ, RGTI) ahead of Q4 earnings highlight differing fundamentals across quantum players; these previews raise focus on upcoming results but don’t change the thesis until numbers/guidance arrive. Q4 earnings preview (Zacks)
• Negative Sentiment: Short-term technical/price pressure: reports flagged a recent daily decline and “stock falls amid market uptick,” signaling that despite positive coverage the shares have experienced near-term volatility. Recent pullback note (Zacks)
• Negative Sentiment: A critical take from Seeking Alpha calls RGTI “a falling knife,” stressing weak revenue trends, negative margins and execution risk — the kind of analysis that can dampen conviction among value‑oriented investors ahead of quarterly results. Critical analysis (Seeking Alpha)

Wall Street Analyst Weigh In

RGTI has been the subject of several research reports. Wall Street Zen raised Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rigetti Computing in a research note on Monday, December 29th. Mizuho assumed coverage on shares of Rigetti Computing in a research report on Thursday, December 11th. They issued an “outperform” rating and a $50.00 price target on the stock. B. Riley decreased 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. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.10.

Rigetti Computing Stock Up 3.6%

The stock’s fifty day moving average is $25.48 and its 200-day moving average is $24.80. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of -19.69 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Monday, November 10th. 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 company had revenue of $1.95 million for the quarter, compared to analysts’ expectations of $2.17 million. Rigetti Computing’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, equities research analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently modified their holdings of RGTI. Royal Bank of Canada raised its holdings in Rigetti Computing by 106.2% during the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after buying an additional 113,644 shares during the period. AQR Capital Management LLC increased its position in shares of Rigetti Computing by 138.9% during the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after acquiring an additional 47,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rigetti Computing by 25.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after acquiring an additional 22,770 shares during the period. NewEdge Advisors LLC lifted its position in Rigetti Computing by 197.8% in the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock valued at $203,000 after acquiring an additional 16,998 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rigetti Computing in the 1st quarter worth $3,115,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

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.