Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.
IPO Year:
Exchange: NASDAQ
Website: https://www.rigetti.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/25/2024 | $3.00 | Buy | B. Riley Securities |
| 3/1/2024 | $3.50 | Buy | Alliance Global Partners |
| 8/11/2023 | $4.00 | Hold → Buy | The Benchmark Company |
| 11/10/2022 | Buy → Hold | The Benchmark Company | |
| 11/10/2022 | $10.00 → $2.00 | Buy → Hold | Deutsche Bank |
| 8/9/2022 | $10.00 | Buy | Deutsche Bank |
| 6/8/2022 | $11.00 | Buy | Needham |
| 5/27/2022 | Outperform | Cowen |
B. Riley Securities analyst Craig Ellis initiates coverage on Rigetti Computing (NASDAQ:RGTI) with a Buy rating and announces Price Target of $3.
https://x.com/CitronResearch/status/1811107710756372543
Rigetti Computing's (NYSE:RGTI) short percent of float has risen 7.84% since its last report. The company recently reported that it has 20.76 million shares sold short, which is 14.03% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.33 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short int
Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced the Company is set to join the Russell 3000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th.
Benchmark analyst David Williams reiterates Rigetti Computing (NASDAQ:RGTI) with a Buy and maintains $3 price target.
Needham analyst Quinn Bolton reiterates Rigetti Computing (NASDAQ:RGTI) with a Buy and maintains $3 price target.
Rigetti Computing (NASDAQ:RGTI) reported quarterly losses of $(0.14) per share which missed the analyst consensus estimate of $(0.11) by 27.27 percent. This is a 26.32 percent increase over losses of $(0.19) per share from the same period last year. The company reported quarterly sales of $3.052 million which missed the analyst consensus estimate of $3.245 million by 5.95 percent. This is a 38.66 percent increase over sales of $2.201 million the same period last year.
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4 - Rigetti Computing, Inc. (0001838359) (Issuer)
4 - Rigetti Computing, Inc. (0001838359) (Issuer)
4 - Rigetti Computing, Inc. (0001838359) (Issuer)
4 - Rigetti Computing, Inc. (0001838359) (Issuer)
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BERKELEY, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that Dr. Subodh Kulkarni, Rigetti CEO, will be delivering a keynote presentation at SEMICON Europa 2024 in Munich, Germany later today, November 13, 2024 at 2:45pm. Dr. Kulkarni will discuss the potential transformative power of superconducting quantum computing and how Rigetti is delivering hands-on access to state-of-art quantum hardware to enable research and innovation to continue to advance the industry. Dr. Kulkarni's keynote, "Superconducting Quantum Computing: Building on Decades of Semiconduct
BERKELEY, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2024 and business updates, including updates to its technology roadmap. Third Quarter 2024 Financial Highlights Total revenues for the three months ended September 30, 2024 were $2.4 millionTotal operating expenses for the three months ended September 30, 2024 were $18.6 millionOperating loss for the three months ended September 30, 2024 was $17.3 millionNet loss for the three months ended September 30, 2024 was $14.8 millionAs of Septembe
BERKELEY, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Rigetti (NASDAQ:RGTI), a pioneer in full-stack quantum-classical computing, announced the successful demonstration of real-time and low latency quantum error correction on a Rigetti quantum computer. Fault tolerance is the point at which lengthy operations can execute without a single error, due to the application of quantum error correction. Reaching this stage, and in turn realizing the full potential of quantum computers, will require the co-development of quantum error correction and quantum computing technologies. Rigetti and Riverlane's recent work demonstrating real-time and low-latency quantum error correction on Rigetti's 84-q
The UK's National Quantum Computing Centre (NQCC) officially opened the doors of its landmark facility on Harwell Campus on October 25. The state-of-the-art facility includes a fully operational 24-qubit Ankaa™-class Rigetti system, which will be made available to NQCC researchers for testing, benchmarking, and exploratory applications development. LONDON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that the UK's National Quantum Computing Centre (NQCC) officially opened the doors of its landmark facility on Harwell
BERKELEY, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release third quarter 2024 results on Tuesday, November 12, 2024 pre-market open. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 8:30 a.m. ET the same day. Key details regarding the call are as follows: Call Date: Tuesday, November 12, 2024Call Time: 8:30 a.m. ET / 5:30 a.m. PTWebcast Link: https://edge.media-server.com/mmc/p/aoxe8j5p/ Live Call Participant Link: https://register.vevent.com/register/BI66e8b07255734ee
BERKELEY, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that Rigetti CEO, Dr. Subodh Kulkarni, will be a speaker at the second annual Stanford Conference on Technology + National Security. The conference is hosted by Stanford DEFCON, a student network under the purview of the Gordian Knot Center for National Security Innovation at Stanford University, and will be held October 8-9 at the Hoover Institution. Dr. Kulkarni will be speaking on the "R&D Ecosystem: Scaling Critical Technologies" panel at 11:15 AM on October 9 where he will discuss the role of quantum
USA News Group CommentaryIssued on behalf of Scope AI Corp. VANCOUVER, BC, Sept. 27, 2024 /PRNewswire/ -- USA News Group – While the world is already witnessing a revolution in artificial intelligence (AI) tools, how tech is applied to our security is about to change. With the rise of upcoming quantum computing power, cybersecurity leaders in the USA are hard at work studying the systems and technology that can withstand the oncoming wave potential new threats to data security. The National Institute of Standards and Technology (NIST) recently published the world's first three official post-quantum cryptographic algorithms and tools designed to protect against future attacks. Meanwhile, in t
Rigetti's novel technique, Alternating-Bias Assisted Annealing (ABAA), allows for more precise qubit frequency targeting, enabling improved execution of 2-qubit gates and a reduction in defects, which both contribute to higher fidelity. This work was recently published in Nature Communications Materials. BERKELEY, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that its paper introducing a novel chip fabrication process, Alternating-Bias Assisted Annealing (ABAA), was recently published in Nature Communications Materials. ABAA allows for more precise qubit fre
BERKELEY, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total revenues for the three months ended June 30, 2024 were $3.1 millionTotal operating expenses for the three months ended June 30, 2024 were $18.1 millionOperating loss for the three months ended June 30, 2024 was $16.1 millionNet loss for the three months ended June 30, 2024 was $12.4 millionFor the period from April 1 - July 12, 2024 raised $27.8 million from the sale of 24.1 million common s
BERKLEY, Calif., July 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release second quarter 2024 results on Thursday, August 8, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 4:30 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, August 8, 2024Call Time: 4:30 p.m. ET / 1:30 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/p9p5pvoq Live Call Participant Dial-in Number: Toll-Free: 1-888-596-4144Conference ID: 6114
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B. Riley Securities initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $3.00
Alliance Global Partners initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $3.50
The Benchmark Company upgraded Rigetti Computing from Hold to Buy and set a new price target of $4.00
The Benchmark Company downgraded Rigetti Computing from Buy to Hold
Deutsche Bank downgraded Rigetti Computing from Buy to Hold and set a new price target of $2.00 from $10.00 previously
Deutsche Bank initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $10.00
Needham initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $11.00
Cowen initiated coverage of Rigetti Computing with a rating of Outperform
BERKELEY, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2024 and business updates, including updates to its technology roadmap. Third Quarter 2024 Financial Highlights Total revenues for the three months ended September 30, 2024 were $2.4 millionTotal operating expenses for the three months ended September 30, 2024 were $18.6 millionOperating loss for the three months ended September 30, 2024 was $17.3 millionNet loss for the three months ended September 30, 2024 was $14.8 millionAs of Septembe
BERKELEY, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release third quarter 2024 results on Tuesday, November 12, 2024 pre-market open. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 8:30 a.m. ET the same day. Key details regarding the call are as follows: Call Date: Tuesday, November 12, 2024Call Time: 8:30 a.m. ET / 5:30 a.m. PTWebcast Link: https://edge.media-server.com/mmc/p/aoxe8j5p/ Live Call Participant Link: https://register.vevent.com/register/BI66e8b07255734ee
BERKELEY, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total revenues for the three months ended June 30, 2024 were $3.1 millionTotal operating expenses for the three months ended June 30, 2024 were $18.1 millionOperating loss for the three months ended June 30, 2024 was $16.1 millionNet loss for the three months ended June 30, 2024 was $12.4 millionFor the period from April 1 - July 12, 2024 raised $27.8 million from the sale of 24.1 million common s
BERKLEY, Calif., July 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release second quarter 2024 results on Thursday, August 8, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 4:30 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, August 8, 2024Call Time: 4:30 p.m. ET / 1:30 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/p9p5pvoq Live Call Participant Dial-in Number: Toll-Free: 1-888-596-4144Conference ID: 6114
BERKELEY, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Total revenues for the three months ended March 31, 2024 were $3.1 millionTotal operating expenses for the three months ended March 31, 2024 were $18.1 millionOperating loss for the three months ended March 31, 2024 was $16.6 millionNet loss for the three months ended March 31, 2024 was $20.8 millionDuring the period from January 1 - May 9, 2024, raised $32.9 million from the sale of 23 million
BERKELEY, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release first quarter 2024 results on Thursday, May 9, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, May 9, 2024Call Time: 5:00 p.m. ET / 2:00 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/e9em4ndr%5DLive Call Participant Link: https://register.vevent.com/register/BIdaa8078c889a462ca491
BERKELEY, Calif., April 23, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, announces the sale of a Novera™ quantum processing unit (QPU) to Horizon Quantum Computing. This marks the Company's third sale of a Novera QPU, and is the Company's first QPU located in Singapore. The Novera QPU will be installed in Horizon Quantum Computing's new hardware testbed in Singapore, and will be Horizon's first quantum computing system. The system is expected to be installed by early 2025. The system will integrate Horizon's software stack, Triple Alpha, and Quantum Machines' OPX1000 processor-based quantu
Deployed the 84-qubit Ankaa™-2 quantum computer, with a 2.5X improvement in error performance compared to the Company's previous QPUs and achieved a 98% median 2-qubit fidelity.Won competition to develop and deliver a 24-qubit quantum computing system to the UK's National Quantum Computing Centre (NQCC).Launched the Novera™ QPU, a 9-qubit quantum processor unit available for integration into customers' on-premise systems.Announces second Novera QPU sale to the Air Force Research Lab (AFRL). BERKELEY, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financi
BERKELEY, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release fourth quarter and full year 2023 results on Thursday, March 14, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, March 14, 2024Call Time: 5:00 p.m. ET / 2:00 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/5yuqcscr/Live Call Participant Link: https://register.vevent.com/register/BI5
BERKELEY, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights Total revenues for the three months ended September 30, 2023 were $3.1 millionTotal operating expenses for the three months ended September 30, 2023 were $19.1 millionOperating loss for the three months ended September 30, 2023 was $16.8 millionNet loss for the three months ended September 30, 2023 was $22.2 millionAs of September 30, 2023 cash, cash equivalents and available-for-sale securitie
BERKELEY, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced the Company is set to join the Russell 3000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th. The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means
LONDON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that it was awarded an Innovate UK grant as part of the Feasibility Studies in Quantum Computing Applications competition. Joining Rigetti in this work is HSBC, the Quantum Software Lab (QSL) based at the University of Edinburgh, and the National Quantum Computing Centre (NQCC). Together, the consortium aims to enhance existing anti-money laundering techniques by using quantum machine learning techniques with the goal of improving the performance of current-state-of
BERKELEY, Calif., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that it has appointed Thomas J. Iannotti as Chairman of the Board of Directors, effective immediately. Mr. Iannotti succeeds Cathy McCarthy in the role of Chair, with Ms. McCarthy continuing to serve as a member of the Board of Directors. Mr. Iannotti currently serves as Chairman of the Board of Directors at Applied Materials, Inc., a role which he has held since 2017. Mr. Iannotti joins Rigetti with extensive leadership experience in the technology and computing industries, most recently serving as Se
Provides Updated Technology Roadmap;Appoints Jeffrey Bertelsen as CFO and Promotes David Rivas to CTO;Implements Workforce Reduction BERKELEY, Calif., Feb. 10, 2023 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that its Board has approved an updated business strategy, including revisions to its technology roadmap. In connection with this updated strategy, the Company will transition to a newly appointed CFO and CTO and is implementing a workforce reduction in order to focus the organization and its resources on nearer-term strategic priorities. "Upon assuming my role as
BERKELEY, Calif., Dec. 08, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that Dr. Subodh Kulkarni will join the Company as President and Chief Executive Officer, effective December 12, 2022. Dr. Kulkarni succeeds Dr. Chad Rigetti in the CEO role, and the Company expects that Dr. Kulkarni will be appointed to its board of directors following Dr. Rigetti's previously announced departure from the Company's board of directors on December 15, 2022. Following the appointment of Dr. Kulkarni, Mr. Rick Danis, who held the interim CEO role during the transition period, will resume
BERKELEY, Calif., Nov. 09, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that the Company's Founder, Dr. Chad Rigetti, has provided to the Company his intention to tender resignation from his positions as the Company's President, Chief Executive Officer and Director on the Company's Board of Directors, with an anticipated effective date of December 15, 2022. As previously announced, the Company is conducting a search for Dr. Rigetti's successor. In the event the Company is unable to identify and appoint a successor before Dr. Rigetti's resignation date, it is anticipated that
BERKELEY, Calif., Oct. 31, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, today announced that the Company's Founder, Dr. Chad Rigetti, will be transitioning from his position as President and Chief Executive Officer to focus on advancing the Company's products and technology. As part of this next phase of growth, the Company will conduct a CEO search for Dr. Rigetti's successor, and Dr. Rigetti will continue to serve in his current role until a successor is identified and assumes the position. "Chad is a pioneer in the development and commercialization of quantum computers. His vision and leade
BERKELEY, Calif., April 19, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that Taryn Naidu, who had served as Chief Operating Officer, is no longer with the Company. Mr. Naidu's departure is not related to any matter regarding the Company's financial condition, reported financial results, internal controls or disclosure controls and procedures. The Company recently has made several key hires, deepening its expertise and leadership in finance, go-to-market, operations, security, and talent management, and does not have immediate plans to name a replacement Chief Operating