Shares of Rigetti Computing Inc (NASDAQ:RGTI) tanked in early trading on Thursday, after the company on Wednesday reported downbeat fourth-quarter earnings.

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Needham: Although Rigetti Computing reported its revenue below expectations, Needham's fiscal 2026 revenue estimate has been revised from $18.5 million to $21.0 million, to reflect acceleration in system sales, Bolton said in a note. The company announced two purchase orders for its Cepheus-1-108-qubit system and Novera 9-qubit QPU, he added.

Management expressed confidence in Rigetti Computing's technical roadmap through 2027, the analyst stated. The price target has been cut "to reflect recent multiple compression in the quantum sector," he further wrote.

Rosenblatt Securities: Rigetti Computing reported its revenues 20% below Street expectations, McPeake said. The company’s development revenues remain "lumpy," especially in quarters that have no machine sales, he added.

"The company said they have resolved the fidelity issue on the Cepheus-1-108Q and now expect the machine to ship at the targeted 99.5% by the end of the month," the analyst wrote. Rosenblatt's fiscal 2027 revenue estimate had been raised from $22.5 million to $24.3 million to reflect "good machine sales momentum," he further stated.

RGTI Price Action: Rigetti Computing shares were down 9.04% at $16.15 at the time of publication on Thursday, according to Benzinga Pro data.

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