Needham & Company LLC Lowers Rigetti Computing (NASDAQ:RGTI) Price Target to $31.00

Rigetti Computing (NASDAQ:RGTI) had its price target dropped by research analysts at Needham & Company LLC from $51.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 74.55% from the company’s previous close.

Several other analysts have also commented on RGTI. Alliance Global Partners reissued a “buy” rating on shares of Rigetti Computing in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rigetti Computing in a research note on Monday, December 29th. 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 price objective for the company. Royal Bank Of Canada lowered shares of Rigetti Computing to a “hold” rating in a research note on Thursday, January 22nd. Finally, Wedbush increased their target price on Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rigetti Computing has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Rigetti Computing Trading Up 4.7%

Shares of NASDAQ:RGTI opened at $17.76 on Thursday. The company has a market capitalization of $5.86 billion, a PE ratio of -13.66 and a beta of 1.71. The business has a 50 day moving average of $20.49 and a two-hundred day moving average of $25.81. Rigetti Computing has a 12-month low of $6.86 and a 12-month high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $1.87 million for the quarter, compared to analyst estimates of $2.33 million. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. Equities research analysts predict that Rigetti Computing will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Rigetti Computing

Several large investors have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors raised its holdings in shares of Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after acquiring an additional 954 shares during the period. Larson Financial Group LLC raised its stake in Rigetti Computing by 138.4% during the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after purchasing an additional 707 shares during the period. EFG International AG acquired a new position in Rigetti Computing in the 4th quarter valued at about $28,000. Tsfg LLC boosted its holdings in Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Rigetti Computing by 180.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company’s stock valued at $30,000 after buying an additional 858 shares during the period. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Rigetti Computing News Roundup

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

• Positive Sentiment: Confirmed customer orders and backlog: Rigetti announced an ~ $8.4M purchase order from India’s C‑DAC for a 108‑qubit on‑premises system and has ~$5.7M of Novera on‑premises orders that the company expects to start shipping in Q1, supporting near‑term revenue upside. Quiver AI / Press Release
• Positive Sentiment: Technology milestones reinforce long‑term thesis: Rigetti reported very high gate fidelities (two‑qubit up to 99.9% on a prototype, median two‑qubit fidelities ~99%‑99.7% across systems) and demonstrated chiplet tiling as a scalable architecture — progress that investors view as validation of the company’s product roadmap. GlobeNewswire Press Release
• Positive Sentiment: Strong liquidity position: Cash, cash equivalents and available‑for‑sale investments totaled roughly $590M at year‑end, giving the company runway to continue R&D and fulfill order shipments. Quiver AI / Press Release
• Neutral Sentiment: Earnings call and investor commentary highlighted technical progress and roadmap execution while management guided to Q1 year‑over‑year revenue growth driven by shipments — but provided no material upside to near‑term profitability. Yahoo Finance: Earnings Call Highlights
• Neutral Sentiment: Industry/partnership momentum: Coverage notes partnerships (NVIDIA, Riverlane, Quanta, QphoX) and strategic positioning for hybrid classical‑quantum deployments — supportive for long‑term market share but not an immediate revenue fix. Zacks: Partnerships & Orders
• Negative Sentiment: Revenue miss and declining top line: Q4 revenue was $1.87–1.9M (down ~18% YoY) vs. analyst estimates near $2.33M, and the company flagged revenue pressure — a clear near‑term negative for valuation. Yahoo Finance: Q4 Loss, Lags Revenue Estimates
• Negative Sentiment: Large operating and GAAP net losses: Q4 operating loss widened to $22.6M and 2025 GAAP net loss was ~$216M; non‑GAAP losses are smaller but the company remains unprofitable, keeping valuation tied to future technical execution and order conversion. GlobeNewswire Press Release
• Negative Sentiment: Market reaction and insider selling: Coverage notes the stock dropped after earnings and Quiver highlights extensive insider sales in recent months, which can weigh on sentiment. Barron’s: Stock Falls After Earnings

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.