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Rigetti Stock: Quantum Hype or Future Winner?
19 Jun
Summary
- Rigetti received up to $100 million in government funding for quantum initiatives.
- Revenue tripled year over year in Q1 2026, but operating losses also increased.
- Analysts are optimistic with an average price target of $29 per share.
Quantum computing firm Rigetti Computing's stock experienced a significant drop from its October 2025 all-time high of $58 per share, now trading around $21. The company secured up to $100 million in additional funding from the U.S. government as part of a broader quantum initiative.
Financially, Rigetti's first quarter of 2026 saw its revenue triple to $4.4 million, driven by research deals and system sales. However, this growth was accompanied by mounting operating losses. The company maintains strong liquidity with over $400 million in cash and equivalents, providing a runway for continued development.
Rigetti's stock, though down over 4% in 2026, has risen nearly 85% in the past 12 months, reflecting its volatility. Analysts maintain an average price target of $29. The company's long-term success hinges on the commercial viability of quantum computing, a question likely to be answered in the early 2030s.
Rigetti faces intense competition from other quantum companies like IonQ and D-Wave, as well as tech giants such as Google and IBM. Investment in Rigetti is considered speculative but promising, requiring a long-term holding strategy through potential market fluctuations.
