Rigetti Computing (NASDAQ:RGTI) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush raised its target to $40 and kept an "outperform" rating, implying roughly a 60% upside; the stock's consensus across analysts is a "Moderate Buy" with a $32.60 target.
• Rigetti secured an $8.4M order from India's C‑DAC for a 108‑qubit system and cites technical progress (36‑qubit units at ~99.5% fidelity) that supports a roadmap toward 1,000+ qubits.
• Material risks persist: revenue is down year‑over‑year, the company reports negative EPS and a very large negative net margin (~-4,741%), and product delays plus valuation vs. revenue concerns create near‑term uncertainty.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) had its target price increased by research analysts at Wedbush from $35.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's target price indicates a potential upside of 60.25% from the company's previous close.

RGTI has been the topic of several other reports. Mizuho started coverage on Rigetti Computing in a research note on Thursday, December 11th. They set an "outperform" rating and a $50.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rigetti Computing in a research report on Monday, December 29th. Wall Street Zen raised shares of Rigetti Computing from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. B. Riley reduced their price objective on shares of Rigetti Computing from $42.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, November 12th. Finally, Jefferies Financial Group began coverage on shares of Rigetti Computing in a research report on Tuesday, December 16th. They set a "hold" rating and a $30.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.60.

Rigetti Computing Trading Down 0.1%

Shares of Rigetti Computing stock opened at $24.96 on Wednesday. Rigetti Computing has a 1 year low of $6.86 and a 1 year high of $58.15. The company's fifty day simple moving average is $25.04 and its 200-day simple moving average is $25.25. The company has a market cap of $8.24 billion, a price-to-earnings ratio of -19.35 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The firm had revenue of $1.95 million during the quarter, compared to the consensus estimate of $2.17 million. The firm's revenue for the quarter was down 18.1% on a year-over-year basis. As a group, research analysts forecast that Rigetti Computing will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors have recently added to or reduced their stakes in RGTI. Harbor Capital Advisors Inc. acquired a new position in Rigetti Computing in the fourth quarter valued at about $365,000. Genesis Financial Group LLC bought a new position in shares of Rigetti Computing in the fourth quarter valued at approximately $341,000. Keystone Financial Group Inc. acquired a new position in shares of Rigetti Computing in the 4th quarter worth approximately $44,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Rigetti Computing during the 4th quarter worth approximately $206,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Rigetti Computing by 9.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 25,341 shares of the company's stock valued at $598,000 after purchasing an additional 2,128 shares in the last quarter. 35.38% of the stock is owned by institutional investors.

Key Rigetti Computing News

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed a "buy" on RGTI and set a $40 price target (roughly a >60% upside from recent levels), which can attract momentum buying and support the stock. Rosenblatt Reaffirms Buy
• Positive Sentiment: Rigetti received an $8.4M purchase order from India's C‑DAC for a 108‑qubit system — a revenue infusion, institutional customer validation and a foothold in the large India market. This order helps justify near‑term revenue expectations and commercial traction. Rigetti Announces Order for a 108‑Qubit Quantum Computer from C‑DAC
• Positive Sentiment: Technical progress: analysts note Rigetti's chiplet strategy is advancing — 36‑qubit units hitting ~99.5% fidelity and a clearer roadmap toward 1,000+ qubits by 2027 — which supports long‑term product credibility. Is Rigetti's Chiplet Strategy Accelerating the 1,000‑Qubit Roadmap?
• Neutral Sentiment: Opinion pieces are mixed—some highlight overlooked strengths, others warn of hype and suggest waiting for a better entry. These conflicting views add volatility but no clear directional signal. Rigetti: What Everybody's Missing
• Neutral Sentiment: Comparisons versus peers (e.g., QUBT) emphasize that upside depends on manufacturing scale, contracts and cash — important context for relative positioning, not an immediate price driver. QUBT vs. RGTI: Which Quantum Computing Stock Offers Greater Upside?
• Negative Sentiment: Rigetti has delayed general availability of its Cepheus‑1 108‑qubit system to hit fidelity targets — a timing risk that can sap momentum, create near‑term uncertainty about revenue recognition and open a competitive window. What Rigetti's Quantum Roadmap Delay and India Deployment Deal Means For Shareholders
• Negative Sentiment: Competitive pressure: coverage pointing to D‑Wave's technical advances and Rigetti's delay could shift investor preference within the sector. Also, analysts and commentators note Rigetti's strong share gain alongside declining quarterly sales, raising valuation vs. revenue concerns. 3 Key Ways D‑Wave Is Developing an Advantage

Rigetti Computing Company Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti's offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.

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