Rigetti Computing is a quantum computing high-flyer that’s seen its shares march choppily higher in recent months. After starting the year with a vicious 70% plunge, it’s quite impressive that shares of RGTI are now down just 21% from all-time highs. Despite being one of the top early contenders for the quantum throne, the name isn’t exactly one you’d want to overweight in the core of your tax-advantaged accounts, not after already posting a 1,900% surge in the past year.
In any case, it is quite interesting that analysts who cover the name are staying bullish, even as shares surge past many of their price targets. The big question for investors is whether Rigetti can garner enough excitement to encourage analysts to hike their targets. With earnings just a week away, it’ll be a moment of truth for Rigetti as it looks to prove to the world that its superconducting quantum architecture is the way of the future.
As more competitors (mature and up-and-coming) attract investment dollars, Rigetti will need to keep marching ahead. Of course, it’s hard to pick winners and losers when the quantum race arguably hasn’t even officially begun. In any case, Rigetti is an intriguing name that’s on the watchlists of many investors willing to take a chance on the fast-rising firms striving to deliver the next big quantum leap.
Rigetti has a lot of bullish analysts. But $19.00 is the current Street-high price target
Indeed, the $5 billion firm is a household name in the quantum scene this year, but given the high stakes going into August 12 earnings, investors should be ready for a massive move in either direction. Amid the stock’s quantum leap, some notable analysts have stepped forward with buy ratings. Perhaps most notable among them is a B.Riley Securities analyst named Craig Ellis, who currently holds the Street-high price target (and an overweight rating) of $19.00 per share. Ellis is also a fan of Rigetti’s U.S. government efforts, which is a vote of confidence for the firm over its rivals in the space.
With shares currently fluctuating around $15 and change, such a target implies a decent, albeit relatively modest gain just north of 20% from current levels. As Rigetti continues making technical progress while inking more partnerships with well-established firms, it’s not hard to imagine RGTI has enough news-worthy catalysts up its sleeves to fuel a further run to and perhaps beyond prior all-time highs of around $20 per share.
How can shares of Rigetti Computing continue their ascent into the back half of 2025 and into 2026?
Of course, the headlines not only need to be positive for Rigetti (notable advancements in its quantum offering would be the biggest needle-mover), but the quantum and tech scene need to be able to hang in there once volatility makes its dreaded return. Indeed, not every stock market correction will have tech leading the way lower.
The highest flyers and the heftiest multiples leave hyper-growth plays most vulnerable to a severe double-digit percentage decline. And for investors seeking to punch a ticket to the quantum trade, the risks of amplified downside need to be taken into consideration.
Rigetti could continue doing everything right and still be dragged down if investors decide that it’s time to turn away from tech and do a bit of profit-taking in the growthiest corners of the market. As always, such a rotation from growth into value is tough to predict. And while September is a month that tends to inspire profit-taking, I wouldn’t be so quick to make moves just because of seasonal jitters. That said, being prepared for more volatility is always a good idea.
Personally, I’d not look to play Rigetti going into earnings. Though $25.00 per share wouldn’t be absurd, given the road behind RGTI, I would watch out for volatility, especially if the coming quarter fails to impress. Personally, I wouldn’t get my hopes up for $25.00 per share in 2026. Of course, I could be wrong, especially if the meme trader crowd rallies behind the name after a good quarter.
Why? The Street-high target is six dollars less, and while Rigetti’s technology is profoundly impressive, it’s tough to gauge when a commercialization of a quantum computer will lead to big profits. Add the 385 times price-to-sales (P/S) multiple into the equation, and I’m fine watching earnings from the sidelines.
Top Gaining Stocks
Top Losing Stocks