Rigetti Computing Gets Hold Rating From Analysts Amid Mixed Views
Thirteen brokerages covering Rigetti Computing have set a consensus Hold rating, with seven buy, four hold, and two sell recommendations. The average 12-month price target is $30.67, while the company reported quarterly revenue of $5.14 million and adjusted EPS of $(0.05), matching expectations, but continues to post significant losses. Insiders sold about 163,689 shares worth $2.57 million in the last quarter, and the stock recently opened at $16.50, far below its one-year high of $58.15.
Thirteen brokerages have issued a mixed consensus of Hold on Rigetti, with seven buys, four holds, and two sells. The average price target stands at $30.67, though recent actions vary widely: Rosenblatt reaffirmed a $40 target, Benchmark initiated at $25, Jefferies held at $18, and both Weiss and Wall Street Zen downgraded to sell.
Financially, Rigetti reported $5.14 million in revenue and a $(0.05) EPS, matching estimates, but carries a negative net margin of 2,189.54% and a projected full-year loss of $(0.27) per share. Insider activity shows CEO Subodh Kulkarni sold 120,000 shares at $15.68, cutting his stake by 46%, while the stock trades near $16.50, far below its $58.15 high.
The mixed analyst outlook and insider selling could signal persistent uncertainty about Rigetti's path to profitability in the competitive quantum computing field. Retail investors may face heightened volatility given the stock's beta of 2.0 and wide price swings. If losses continue, it could dampen broader confidence in quantum startups, potentially slowing capital inflows and delaying commercialization, which affects both shareholders and the technology's eventual societal adoption.