TLDR
- RGTI reports Q2 2026 earnings after markets close Thursday, with Wall Street expecting adjusted EPS of -$0.05 and revenue of $5.09 million.
- The stock has fallen after three of its last four earnings reports; the one exception was a 6.42% gain after Q2 2025.
- RGTI is down 24.33% year-to-date but up 7.15% over the past 12 months.
- Analyst consensus is “Moderate Buy” with an average price target of $30.71, implying roughly 32% upside.
- Insiders sold approximately $17.5 million worth of stock over the past three months.
Rigetti Computing (RGTI) is set to report its Q2 2026 earnings after the bell on Thursday. The stock was trading around $17.45 earlier this week, up 8.9% in a single session, before pulling back slightly heading into the report.
Wall Street is bracing for an adjusted loss of $0.05 per share on revenue of $5.09 million. That revenue figure would mark another strong year-over-year jump for the company, which posted $4.40 million in Q1 2026, up 198.9% from the same period a year earlier.
RGTI beat EPS estimates in Q1, reporting a $0.04 loss versus the $0.05 consensus. But the broader earnings track record is mixed. Adjusted EPS has topped estimates in just four of the past eight quarters, and revenue has only beaten in two of the past eight.
The stock traded at $17.45 this week, after touching a high of $17.72 during intraday trading. Volume came in at around 24 million during that session, below the three-month average of roughly 33.5 million.
Heading into Thursday’s report, RGTI is down 24.33% year-to-date. The stock is still up 7.15% over the last 12 months, but it has been a bumpy ride. Beta sits at 1.95, so this is not a stock for the faint-hearted.
What History Says About Post-Earnings Moves
RGTI has dropped after three of its last four earnings releases. The only positive post-earnings move in that stretch was a 6.42% gain following Q2 2025 results. That’s not an encouraging pattern, though past performance doesn’t guarantee what happens next.
Trading activity ahead of Thursday’s report was relatively light. Only about 9.62 million shares changed hands during the day, well below the three-month average of 25.88 million. That suggests investors are largely sitting on their hands waiting for the numbers.
Analyst Sentiment and Insider Activity
Despite the choppy price action, Wall Street remains broadly positive on RGTI. The consensus rating is “Moderate Buy,” based on six Buy ratings and three Hold ratings over the past three months. The average price target sits at $30.71, which would represent roughly 32.71% upside from current levels.
Benchmark started coverage in late July with a Buy rating and a $25 price target. Needham has a $31 target, and Mizuho, while trimming its target from $33 to $27, kept an “outperform” rating.
On the institutional side, Vanguard increased its position by 12.2%, and State Street added to its stake by 12% in Q2. That’s a vote of confidence from some of the biggest names in passive investing.
The insider picture is less encouraging. Over the past three months, insiders sold around $17.5 million worth of stock. CTO David Rivas sold approximately $12.7 million alone, cutting his ownership by 60.5%.
Q2 2026 earnings are due after markets close Thursday.
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