Rigetti Computing (NASDAQ:RGTI) Price Target Cut to $15.00 by Analysts at Needham & Company LLC

Posted by Stanley Muller on Nov 12th, 2026

Rigetti Computing (NASDAQ:RGTI – Free Report) had its price target cut by Needham & Company LLC from $31.00 to $15.00 in a report released on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on RGTI. Zacks Research upgraded shares of Rigetti Computing from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Benchmark assumed coverage on shares of Rigetti Computing in a research report on Monday, July 27th. They set a “buy” rating and a $25.00 price objective on the stock. Wall Street Zen downgraded Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a research report on Friday, August 7th. Finally, Wedbush started coverage on Rigetti Computing in a research note on Monday, August 3rd. They set an “outperform” rating and a $40.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.00.

View Our Latest Research Report on RGTI

Rigetti Computing Stock Performance

Rigetti Computing stock opened at $11.11 on Wednesday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -30.86 and a beta of 2.15. Rigetti Computing has a 52-week low of $9.19 and a 52-week high of $31.65. The stock’s 50 day moving average price is $13.76 and its two-hundred day moving average price is $16.72.

Rigetti Computing (NASDAQ:RGTI – Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $1.41 million during the quarter, compared to the consensus estimate of $3.50 million. Rigetti Computing had a negative net margin of 737.60% and a negative return on equity of 19.25%. The business’s revenue was down 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. On average, equities research analysts forecast that Rigetti Computing will post -0.26 EPS for the current year.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, CEO Subodh K. Kulkarni sold 120,000 shares of Rigetti Computing stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $15.68, for a total transaction of $1,881,600.00. Following the completion of the transaction, the chief executive officer owned 140,411 shares in the company, valued at approximately $2,201,644.48. The trade was a 46.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 25,000 shares of Rigetti Computing stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $15.00, for a total value of $375,000.00. Following the transaction, the chief financial officer owned 168,067 shares of the company’s stock, valued at $2,521,005. This trade represents a 12.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 163,689 shares of company stock worth $2,570,890. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Rigetti Computing

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Management Partners LLC raised its position in Rigetti Computing by 1.7% in the third quarter. Wealth Management Partners LLC now owns 52,598 shares of the company’s stock worth $828,000 after acquiring an additional 869 shares during the period. Arizona State Retirement System increased its position in Rigetti Computing by 1.1% in the second quarter. Arizona State Retirement System now owns 91,650 shares of the company’s stock worth $1,771,000 after buying an additional 1,000 shares during the last quarter. Allworth Financial LP increased its position in Rigetti Computing by 10.1% in the third quarter. Allworth Financial LP now owns 10,998 shares of the company’s stock worth $173,000 after buying an additional 1,011 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Rigetti Computing by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,651 shares of the company’s stock valued at $65,000 after buying an additional 1,121 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Rigetti Computing by 10.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 11,654 shares of the company’s stock valued at $183,000 after buying an additional 1,128 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Rigetti Computing

Here are a few of the latest headlines about RGTI:

Neutral Sentiment: Analysts focused on Rigetti’s long-term technology roadmap, but management indicated commercialization may still be roughly three years away, leaving near-term results dependent on research progress and system deliveries. Article: Rigetti reports lumpy Q3 results
Negative Sentiment: Third-quarter revenue was $1.4 million, down 27.5% year over year and well below analyst expectations; the per-share loss was $0.06 versus the $0.05 loss estimate. Rigetti also forecast 2026 revenue of $20 million, below the roughly $23 million consensus. Article: Rigetti Q3 earnings and revenue
Negative Sentiment: Management signaled that elevated capital spending will continue through 2027, adding to concerns about costs while revenue remains small. Several analysts lowered forecasts or price targets following the results, although Needham retained a Buy rating while cutting its target from $31 to $15. Article: Rigetti spending outlook

About Rigetti Computing

(Get Free Report)

Rigetti Computing develops superconducting quantum computers and related software. Its work spans the design and manufacture of quantum processors, as well as systems that connect quantum processors with conventional computing infrastructure. The company offers access to its quantum computers and development tools through its Quantum Cloud Services platform. It also provides quantum hardware for on-premises use, serving customers and research organizations exploring quantum applications. Founded in 2013 by physicist Chad Rigetti, the company is based in Berkeley, California.