Rigetti Computing (NASDAQ:RGTI) Trading 8.3% Higher Following Better-Than-Expected Earnings

Posted by George Bondi on May 11th, 2026

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shot up 8.3% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $20.85 and last traded at $20.51. 43,119,204 shares changed hands during trading, an increase of 45% from the average session volume of 29,760,822 shares. The stock had previously closed at $18.94.

The company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 net margin of 3,111.92% and a negative return on equity of 14.91%.

Analyst Ratings Changes

Several brokerages recently commented on RGTI. Needham & Company LLC cut their price target on shares of Rigetti Computing from $51.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. TD Cowen downgraded shares of Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. Wedbush upped their price target on shares of Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Mizuho cut their price target on shares of Rigetti Computing from $50.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rigetti Computing has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

Check Out Our Latest Stock Analysis on Rigetti Computing

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the transaction, the chief financial officer directly owned 175,609 shares in the company, valued at $3,076,669.68. This represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO David Rivas sold 36,719 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the completion of the transaction, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. This represents a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rigetti Computing

Hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Rigetti Computing in the 3rd quarter worth about $30,000. Parallel Advisors LLC grew its stake in Rigetti Computing by 403.2% in the 3rd quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock worth $32,000 after acquiring an additional 871 shares in the last quarter. Clearstead Advisors LLC bought a new position in Rigetti Computing in the 3rd quarter worth about $35,000. Heritage Wealth Advisors boosted its stake in shares of Rigetti Computing by 454.3% during the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock valued at $26,000 after purchasing an additional 954 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake 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 valued at $27,000 after purchasing an additional 707 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.

Rigetti Computing Stock Up 8.3%

The stock’s 50 day moving average price is $16.41 and its 200-day moving average price is $22.36. The stock has a market capitalization of $6.81 billion, a P/E ratio of -30.16 and a beta of 1.79.

About Rigetti Computing

(Get Free Report)

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.