TD Cowen analyst Krish Sankar has maintained their bullish stance on RGTI stock, giving a Buy rating today.
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Krish Sankar has given his Buy rating due to a combination of factors that highlight Rigetti Computing’s promising future. The company’s steady execution on its product roadmap, particularly the development of its 100Q+ chiplet product and plans for more advanced systems by late 2026 and 2027, demonstrates a strong technical trajectory. Additionally, recent sales of the Novera QPU and a significant contract with the AFRL provide encouraging signs of revenue growth, even though current revenues are primarily government and research-funded.
Furthermore, Rigetti’s robust cash position, with approximately $600 million available, ensures that the company has sufficient resources to achieve its milestones through 2027 and beyond. This financial stability, coupled with potential growth opportunities in Europe through the establishment of an Italian subsidiary, positions Rigetti well for future expansion. Despite not being initially invited to DARPA’s QBI Stage B phase, there remains potential for involvement in 2026, which could further enhance the company’s prospects.
In another report released today, Benchmark Co. also maintained a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RGTI in relation to earlier this year.