Movement Alert｜Rigetti Computing Falls 5.18% in Regular Trading, Q3 Revenue Miss and Target Price Cuts Weigh on Shares

Market Focus11-11

On November 11, Rigetti Computing fell 5.18% in Regular Trading, trading at $11.535, with turnover of $161 million.

The move was tied to a weak quarterly report and a fresh round of analyst target price cuts following the release.

Rigetti Computing reported third-quarter revenue of $1.411 million, down 28% from $1.947 million a year earlier and well below the $3.519 million consensus estimate. Adjusted loss per share was $0.06, wider than the expected $0.05 loss. The company maintained full-year revenue guidance of about $20 million, but that remained below the roughly $22.9 million market expectation and was described as dependent on fourth-quarter project acceptance. Later updates indicated that several firms, including Jefferies, Alliance Global, StoneX and Needham, revised views after earnings, with multiple target price reductions adding pressure even as Needham kept a buy rating.

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