Movement Alert｜Rigetti Computing Intraday Decline 5.13% in Regular Trading, weak Q3 results and lower price targets continue to weigh

Market Focus11-13 22:51

On November 13, Rigetti Computing fell 5.13% in Regular Trading, trading at $9.825, with turnover of $24.1612 million.

The move follows continued pressure from the company’s weaker-than-expected third-quarter results and subsequent analyst target-price cuts.

Rigetti reported third-quarter revenue of $1.411 million, down 28% year over year and below the $3.519 million consensus, while adjusted loss per share was $0.06 versus the expected $0.05 loss. The company maintained full-year revenue guidance of about $20 million, below market expectations, with part of the outlook still dependent on fourth-quarter project acceptance and revenue recognition. Recent analyst updates lowered price targets, although some firms kept positive ratings, reinforcing a cautious near-term market reaction.

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