Why Is RIGETTI COMPUTING IN (RGTI) Stock Down Today?

Rigetti Computing (RGTI) shares fell 8.56% to $11.11, driven by a significant third-quarter revenue miss and a soft full-year outlook. The quantum computing firm reported earnings that disappointed investors, leading to a broader sell-off in the stock.

What Happened

Rigetti reported third-quarter revenue of $1.4 million, well below the estimated $3.5 million. Adjusted earnings per share came in at negative $0.06, missing the expected negative $0.05, while GAAP EPS was negative $0.08. The company provided a soft outlook for 2026, citing lumpy results. Analysts responded with mixed reactions; StoneX and Needham retained Buy ratings but lowered their price targets to $20 and $15, respectively. Jefferies maintained a Hold rating and cut its target to $12. Despite the financial miss, analysts highlighted the company’s roadmap, specifically the target to deliver a 300-qubit system by mid-2028.

What The Data Shows

The stock has a market capitalization of $4.3 billion and remains unprofitable with a trailing twelve-month EPS of negative $0.80. Revenue grew 68.5% over the trailing twelve months, but the stock carries a high beta of 2.15. The 52-week range is $9.19 to $34.71. Over the last eight sessions, the stock had moved up 8.0% from $11.25 to $12.15 before this decline. On November 11, 2026, the stock printed 39 fresh 52-week lows. Insider activity shows five sales totaling $2.6 million in the last 90 days, with no buys. The most recent sales were by CEO Subodh Kulkarni on September 9, CFO Jeffrey Bertelsen on September 3, and COO David Rivas on August 20. Unusual options activity included two notable prints with $782,000 in call premium and no put premium.

What To Watch

Investors will monitor the company’s progress toward its 300-qubit target by mid-2028. The stock’s high beta and recent 52-week lows suggest continued volatility as the market digests the earnings miss and the long-term engineering roadmap.