Rigetti Computing, Inc.

NASDAQ Capital Market
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Bullish +65

Quantum Computing and D-Wave Quantum Jump 12%, Rigetti Climbs 9%, IonQ Gains 6% Amid Risk-On Optimism

📈 Rigetti Computing (RGTI) shares climbed 9% to $22.92, driven by broad market risk-on sentiment following geopolitical news.

💰 Q1 2026 revenue reached $4.4 million, representing a near-tripling compared to the same period last year.

🔬 The company's 108-qubit Cepheus-1-108Q system is now available on AWS Braket, Azure Quantum, and qBraid.

🇬🇧 Management indicated a potential UK investment of up to $100 million for a next-generation 1,000-plus qubit machine.

📉 Loss per share narrowed significantly to just $0.04 during the quarter.

🎯 Analysts maintain an average price target of $29.24 with ratings including one Strong Buy and eight Buys.

🚀 The stock has appreciated 101% over the past year, outperforming peers like Quantum Computing Inc.

Bullish Signals
  • Rigetti reported Q1 2026 revenue of $4.4 million, which is nearly triple the prior-year period.
  • The company successfully narrowed its loss per share to just $0.04 in the first quarter.
  • The 108-qubit Cepheus-1-108Q system is now in general availability on major cloud platforms like AWS and Azure.
  • Management has flagged a potential UK investment of up to $100 million for a future 1,000-plus qubit machine.
  • Analyst consensus includes one Strong Buy and eight Buy ratings with an average price target of $29.24.
Risk Factors
  • The rally is driven by broad market risk-on sentiment rather than specific quantum computing catalysts, suggesting the move may be temporary.
  • Rigetti remains a pre-profit company trading on high-beta momentum rather than current cash flow generation.
  • Analyst ratings include three Holds and one Sell, indicating some caution regarding the stock's valuation or execution.
Full Analysis
Shares of Rigetti Computing (RGTI) rose 9% to approximately $22.92 on Monday, joining a broader rally in quantum computing stocks driven by risk-on market sentiment rather than company-specific catalysts. The move was fueled by a U.S.-Iran peace agreement signed on June 19, which lifted speculative high-beta names across the tape as the CBOE Volatility Index (VIX) dropped to 16.24. Rigetti reported Q1 2026 revenue of $4.4 million, nearly triple the prior-year period, with a narrowed loss per share of $0.04. The company's 108-qubit Cepheus-1-108Q system is currently in general availability on major cloud platforms including AWS Braket and Azure Quantum. Management has also flagged a potential UK investment of up to $100 million for a future machine with over 1,000 qubits. Analyst sentiment remains mixed but generally positive, with Rigetti holding one Strong Buy, eight Buy, three Hold, and one Sell rating, averaging a price target of $29.24. The stock has gained 101% over the past year, outperforming peers like Quantum Computing Inc., which trades at a lower valuation despite recent acquisitions.