Rigetti Computing (NASDAQ:RGTI) Shares Up 8.9% – What’s Next?

Rigetti Computing, Inc. (NASDAQ:RGTI) shares traded up 8.9% on Tuesday . The company traded as high as $17.72 and last traded at $17.45. Approximately 24,002,817 shares were traded during trading, a decline of 28% from the average daily volume of 33,550,035 shares. The stock had previously closed at $16.02.

Rigetti Computing News Summary

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

• Positive Sentiment: Rigetti reported second-quarter revenue of $5.14 million, slightly above the $5.09 million analyst consensus, while its adjusted loss of $0.05 per share matched expectations. The company also highlighted growing demand for its quantum systems, progress on its technology roadmap and strategic U.S. government support. Rigetti Computing Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Quantum-system sales are accelerating, suggesting improving commercial traction. Rigetti is also participating with HPE and the Pittsburgh Supercomputing Center in a $5 million National Science Foundation-backed hybrid quantum-classical computing testbed scheduled to begin construction in September. Rigetti Expands Hybrid Quantum HPC Push With New NSF Project
• Neutral Sentiment: Wedbush initiated coverage of Rigetti, adding fresh analyst attention, although the available report does not provide a rating or price target. Investors had also been focused on bookings, revenue growth and commercial execution ahead of the earnings release. Rigetti Computing Coverage Initiated at Wedbush
• Negative Sentiment: The earnings release was viewed as mixed: revenue exceeded expectations only modestly, while Rigetti remains unprofitable. Its reported negative net margin and negative return on equity reinforce concerns about whether current commercial momentum can support its roughly multibillion-dollar valuation.
• Negative Sentiment: The stock’s decline reflects continued pressure across speculative quantum-computing shares after sharp rallies earlier in the year. Concerns about elevated valuations, limited near-term earnings and broader sector momentum are offsetting the positive sales and government-contract developments. Quantum Stocks Lag in 2026

Analysts Set New Price Targets

Several brokerages have recently commented on RGTI. Needham & Company LLC restated a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a research report on Thursday, June 11th. Northland Securities started coverage on Rigetti Computing in a research note on Monday, April 20th. They set a “market perform” rating and a $20.00 price target on the stock. Wedbush started coverage on Rigetti Computing in a research report on Monday. They set an “outperform” rating and a $40.00 price target for the company. Finally, Weiss Ratings raised Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Rigetti Computing Stock Down 1.5%

The business’s fifty day moving average is $18.64 and its two-hundred day moving average is $18.13. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -19.00 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI) last released its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. As a group, sell-side analysts expect that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insider Activity

In other Rigetti Computing news, Director Ray O. Johnson sold 84,944 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the sale, the director owned 95,537 shares in the company, valued at $1,963,285.35. This represents a 47.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Rivas sold 499,328 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.40, for a total value of $12,682,931.20. Following the sale, the chief technology officer owned 325,945 shares in the company, valued at approximately $8,279,003. This trade represents a 60.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 728,901 shares of company stock worth $17,546,343. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Rigetti Computing

A number of institutional investors and hedge funds have recently made changes to their positions in RGTI. Kestra Private Wealth Services LLC increased its position in Rigetti Computing by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company’s stock worth $831,000 after buying an additional 535 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Rigetti Computing by 10.2% in the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company’s stock valued at $147,000 after acquiring an additional 615 shares during the period. Comerica Bank boosted its holdings in shares of Rigetti Computing by 2.1% in the third quarter. Comerica Bank now owns 31,901 shares of the company’s stock valued at $950,000 after acquiring an additional 653 shares during the period. Main Management ETF Advisors LLC grew its position in shares of Rigetti Computing by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 64,206 shares of the company’s stock worth $1,422,000 after acquiring an additional 656 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of 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 acquiring an additional 707 shares during the last quarter. 35.38% of the stock is 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.