Analyst revamps Rigetti price target for one unexpected reason originally appeared on TheStreet.
Quantum computing may still sound like science fiction to some, but a few pure-play stocks are turning that dream into serious market firepower.
Call it hype or the future, but quantum computing stocks continue to deliver on Wall Street, building on their late-2024 surge.
Invest in Gold
American Hartford Gold: #1 Precious Metals Dealer in the Nation
Learn More
Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase
Learn More
Thor Metals Group: Best Overall Gold IRA
Learn More Powered by Money.com - Yahoo may earn commission from the links above.💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵
Even with the bubble chatter, some niche players continue racking up big gains, while building tech that promises to flip the script on modern computing.
One standout, though, is proving it can efficiently scale its cutting-edge quantum tech and build real momentum outside the lab.
Backed by heavyweight partnerships and a ton of cash, this frontrunner just scored a fresh Wall Street nod as it rockets ahead.
Rigetti stock's fresh upgrade puts quantum investors on alert.Image source: TheStreet Rigetti stock’s full-stack quantum system aims to lead the pack
Rigetti Computing (RGTI) has quickly become one of the bellwethers in the quantum computing space.
It has set itself apart in delivering a full-stack system, combining its own superconducting qubit chips, control hardware, and a cloud-ready software platform.
At the heart of it all is Rigetti Quantum Cloud Services (QCS). For developers, QCS streamlines things, offering instant access to Rigetti’s processors along with simple APIs and SDKs to run mixed quantum-classical workflows.
On the financial front, Rigetti is in a relatively impressive position. In its first quarter, it posted $1.5 million in revenue and $42.6 million in net income ( mostly due to non-cash gains).
Related: Veteran analyst drops shocking Tesla target
More importantly, it wrapped up the quarter with a hefty $209 million in its cash till.
It was later supercharged in June by raising another $350 million through an at-the-market equity offering, bringing those cash reserves to about $575 million.
Moreover, 2025 has been a busy year for its business. Rigetti locked in a $35 million equity deal with Quanta Computer to scale quantum module production.
More Tech Stock News:
-
Solar stocks’ nightmare year just got a plot twist
-
Apple could make big change to Siri, delight fans
-
Veteran analyst offers eye-popping Nvidia, Microsoft stock prediction
In a foray into the Asia-Pacific region, it also signed an MOU with South Korea’s Norma to launch an 84-qubit system.
On the R&D front, it was among the 15 finalists in DARPA’s Quantum Benchmarking Initiative, a critical government push to get superconducting systems to “utility-scale” performance by 2033.
Also, with partnerships with the UK’s National Quantum Computing Centre, Rigetti is showing that it's not just building chips, but an entire ecosystem.
Story ContinuesCantor’s bullish rating puts the spotlight on Rigetti stock’s next leap
Rigetti Computing stock is in the news this week, after Cantor Fitzgerald slapped an Overweight rating and a $15 price target (up over 15% from its last close).
Without sugarcoating the reality, Cantor’s Troy Jensen feels the quantum computing industry is still in its nascence.
That means full-scale, error-corrected systems are probably years off, but the promise of mind-bending speed has kept Wall Street buzzing, with valuations running way ahead of near-term revenue.
Moreover, it’s not just Rigetti catching this wave.
Its popular peers like IonQ and D-Wave have attracted similar attention, as they roll out their ambitious hardware roadmaps and next-gen software.
Related: Cathie Wood makes surprising chip bet as AI battle heats up
As mentioned earlier, Rigetti made its own splash by raising $350 million through an at-the-market equity sale, padding its balance sheet. Naturally, that massive cash cushion should help Rigetti land major new deals with governments and key cloud players, which remain must-haves in the quantum arms race.
Cantor’s endorsement is a bet that getting in early on the quantum bandwagon could pay off immensely.
However, the spotlight is now on Rigetti and its peers to deliver scalable, error-corrected systems and to commercialize quantum-as-a-service in the process.
Yesterday was massive for Rigetti, where its stock skyrocketed 15.5% to around $13 mark. And over the past year, it’s gone parabolic, delivering more than 1,000% gain.
Drill down further, and on a nine-month basis, the stock is up roughly 1,400%, while its three-month return of 45% wipes the floor with other stalwarts in the tech niche.
Related: Analyst reboots IonQ stock price target for surprising reason
Analyst revamps Rigetti price target for one unexpected reason first appeared on TheStreet on Jul 3, 2025
This story was originally reported by TheStreet on Jul 3, 2025, where it first appeared.
