Movement Alert｜Rigetti Computing Intraday Decline 5.76%, Q3 Miss and Lower Analyst Targets Continue to Weigh

Market Focus11-12 22:58

On November 12, Rigetti Computing fell 5.76% in Regular Trading, trading at $10.735, with turnover of $41.7607 million.

The move follows the company’s weaker-than-expected quarterly report and a fresh round of analyst target-price cuts, which continued to pressure sentiment around the stock.

Rigetti reported third-quarter revenue of $1.411 million, down 28% from a year earlier and well below the roughly $3.52 million expected by the market, while adjusted loss per share was $0.06 versus an expected $0.05 loss. The company also maintained full-year revenue guidance of about $20 million, below expectations near $22.9 million, with execution depending on fourth-quarter project acceptance. After the results, several firms lowered price targets while maintaining generally positive ratings, underscoring longer-term interest in the quantum-computing story but near-term concern over revenue volatility and spending needs.

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