Rigetti Computing ( (RGTI) ) has fallen by -16.74%. Read on to learn why.
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Rigetti Computing shares fell 16.74% over the past week, pulling back after a strong year-to-date rally that had left the quantum-computing specialist looking expensive to some investors. The stock recently traded around $25.49, down $1.39 on the day cited in the release, with options activity showing calls outnumbering puts and implied volatility easing into the lower end of its 12‑month range. That mix suggests traders are still cautiously bullish, even as near-term profit-taking and concerns about elevated valuations weigh on the price.
Fundamentally, Rigetti remains a high‑growth, high‑risk story. Third-quarter 2025 results were mixed: revenue dropped 18% year-over-year to $1.95 million and missed expectations, but the adjusted loss per share narrowed to $0.03, better than both last year and Wall Street forecasts. Management is talking up a robust technology roadmap, promising a 100+ qubit chiplet‑based system by year-end, followed by 150+ qubits by 2026 and more than 1,000 qubits by 2027, alongside new collaborations with research institutions and a notable integration partnership with Nvidia’s NVQLink platform.
Despite the latest pullback, Wall Street remains broadly constructive on Rigetti Computing. Wedbush and Mizuho both initiated coverage with bullish price targets of $35 and $50 respectively, citing the company’s lead in superconducting qubits, strong cash position—estimated at $450–$600 million and debt‑free—and its status as a scalable challenger to giants like IBM and Google. Jefferies took a more cautious Hold stance, pointing to execution risk, past roadmap delays, and heavy exposure to government contracts, yet still sees upside if Rigetti can deliver on its ambitious milestones. The consensus rating is a Moderate Buy, with an average target implying significant upside from current levels, underscoring how last week’s slide reflects short-term jitters more than a collapse in the long-term quantum story.