Rigetti Computing (RGTI) is an integrated full-stack quantum computing company that focuses on designing and developing quantum chips. It was the first company to develop a multi-chip quantum processor.
About Rigetti Computing Stock
Based in Berkeley, California, Rigetti Computing is valued at $2.43 billion and initiated operations in 2013. The stock had an eventful 2024. Shares gained 1,700% and continued their momentum into 2025, gaining 20% in the opening week of the new year.
However, it all went downhill following comments from Nvidia’s (NVDA) Jensen Huang. RGTI stock crashed 45% on Jan. 8 to return to the $10 level, and it now trades 50% below its 52-week high.
Experts on Quantum Computing
Quantum computing is seen as the next big thing in the tech world, earning it investor attention. Quantum stocks such as Rigetti, D-Wave Quantum (QBTS) , and IonQ (IONQ) have been on similar paths higher, but CES 2025 put a brake on the momentum. There, Nvidia CEO Jensen Huang claimed “very useful” quantum computers are still roughly 20 years away.
Huang was not pessimistic about the industry as a whole, and believes in its cutting-edge technology. He said Nvidia continues investing in the development of quantum computers. Rigetti Computing also had a partnership with Nvidia in 2022 for developing a hybrid GPU-QPU and now in December 2024, it announced a successful calibration of a quantum computer with the use of Nvidia and Quantum Machines.
Rigetti working closely with Nvidia can instill confidence in the lesser-known company with Rigetti working on several announcements in 2025.
Another expert who has voiced his opinion on quantum computers is Mad Money host Jim Cramer. He, too, has voiced his pessimism about quantum stocks. He believes 2025 to be too early for a breakthrough and warns the industry might face a reality check with overhyped stocks.
Rigetti’s Quarterly Results
Rigetti Computing’s latest quarterly results came on Nov. 12, where it reported its third-quarter results for the quarter ended Sept. 30. During the quarter the company posted a net loss of $14.8 million translating into a loss of $0.08 per share against analysts’ $0.10-per-share loss estimate.
On the revenue front, the quantum computing stock posted total revenue of $2.4 million. During the quarter, the company posted operating expenses of $18.6 million and an operating loss of $17.35 million. The company ended the quarter with a cash reserve of $92.6 million.
During the quarter, it also unveiled its new modular system architecture with plans to release a 36-qubit system by mid-2025 and a 100-qubit system by the end of the year.
Should You Buy RGTI Stock?
Analysts have a strong opinion about the quantum stock with a solid “Strong Buy.” Despite the strong support, its mean price target of $5.20 is below its current trading price, implying downside of roughly 50%. The stock is lightly covered with only five analysts providing coverage. It has four “Strong Buy” ratings and one “Moderate Buy” rating.
