Quantum computing company Rigetti Computing (RGTI) is scheduled to report its results for the fourth quarter of 2024 after the market closes on Wednesday, March 5. RGTI stock has declined nearly 50% so far in 2025 but is still up about 314% over the past year. The year-to-date decline is due to rising competition in the quantum computing space and Nvidia (NVDA) CEO’s comment that useful quantum computers are still many years away. Analysts expect Rigetti to report a narrower loss per share of $0.07 in Q4 2024, compared to $0.09 in the prior-year quarter.
The company’s Q4 2024 revenue is expected to decline about 26% year-over-year to $2.5 million. Rigetti Computing is a vertically integrated company that develops quantum computers and the superconducting quantum processors that power these computers.
Sentiment on RGTI Stock Ahead of Q4 Earnings
Heading into the Q4 2024 results, Benchmark analyst David Williams reiterated a Buy rating on RGTI stock and increased the price target to $14 from $2.50 after a virtual meeting with the management. Williams said that following the interaction, he has more confidence in the company’s technology roadmap and continued progress toward reaching its internal fidelity targets. The analyst noted that the company significantly bolstered its balance sheet at 2024-end through several capital raises, with about $220 million in cash, which management expects to sustain operations for at least three years.
Williams believes that Rigetti’s superconducting approach and modular architecture are key advantages that would help overcome the scalability challenge in gate-based systems. He is confident about the company’s growth potential, given its “compelling architecture and significant IP [intellectual property] moat.”
Aside from Williams, analysts at Craig-Hallum and Alliance Global Partners have also reiterated a Buy rating on RGTI stock recently.
Options Traders Anticipate Major Move on Rigetti’s Q4 Earnings
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting about 14.9% move in either direction in reaction to RGTI’s Q4 FY24 results.
Is RGTI Stock a Buy, Sell, or Hold?
Overall, Wall Street has a Strong Buy consensus rating on RGTI stock based on five unanimous Buys. The average RGTI stock price target of $15.25 implies 98.1% upside potential.
