Rigetti Computing (RGTI) lit up investor screens again yesterday, surging over 15% following fresh buy-side analyst coverage. While the spike grabbed headlines, many investors are now wondering if this quantum computing stock has more upside ahead. Here are three key reasons why RGTI stock may still have room to run, even after the recent rally.
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For context, Cantor Fitzgerald’s four-star-rated analyst Troy Jensen initiated coverage on RGTI stock yesterday with a Buy rating and a $15 price target, suggesting over 14% upside.
1. Strong Endorsement from Wall Street Analysts
Rigetti’s stock isn’t widely covered on Wall Street, but all six analysts tracking it currently rate it a Buy, according to TipRanks, with price targets ranging from $14 to $16.
In his latest note, Jensen emphasized that while quantum computing is still in its early innings, it remains one of the most important tech breakthroughs. He acknowledged that it may take years for the technology to fully mature, but believes RGTI stock could reach $15 as investor interest in the sector continues to build.
Likewise, Craig-Hallum’s five-star-rated analyst Richard Shannon, who maintains a Buy rating on RGTI, believes the company’s unique scaling advantages could help it match or even surpass rivals in the race for quantum supremacy in the coming years. In addition, Shannon suggests that quantum computing could follow a similar trajectory to the explosive growth of AI in 2023.
2. Improving Financial Discipline and Commercial Traction
Rigetti’s financial story remains challenging, with revenue still in its early stages, totaling just $1.5 million in Q1 2025. Meanwhile, the company reported an operating loss of $21.6 million in the same quarter. However, recent efforts reflect a tighter focus on cost control and commercial partnerships. The company has secured partnerships with prominent clients such as NASA, Phasecraft, and Standard Chartered (GB:STAN), offering early validation of the commercial potential of its quantum technology.
Additionally, the company’s $350 million at-the-market equity raise in June 2025 significantly boosted its cash and investment reserves to $575 million, cleared its debt, and positioned the company to ramp up research, development, and commercialization efforts.
3. RGTI Stock Still Trails Its All-Time High
RGTI has been one of the most explosive stocks over the past year, soaring more than 1,200%. However, despite those impressive gains, the stock remains down about 34% from its all-time high of $20. Year-to-date, RGTI is still down roughly 14%, highlighting both its high volatility and the potential for further upside.
What Is the Target Price for RGTI Stock?
According to TipRanks, RGTI stock has received a Strong Buy consensus rating, with six Buys assigned in the last three months. The average Rigetti stock price target is $15.0, suggesting a potential upside of 15% from the current level.
