Shares of Rigetti Computing Inc (NASDAQ:RGTI) are soaring Wednesday afternoon after Cantor Fitzgerald initiated coverage on the quantum computing firm with an Overweight rating and a $15.00 price target.
What To Know: Analyst Troy Jensen cited the company’s position as a leading pure-play in superconducting quantum systems as a key reason for the bullish outlook.
Cantor’s report highlights Rigetti's strategic collaboration with Quanta Computer, which includes a five-year, $250 million co-investment from each company to accelerate the development and commercialization of its technology.
The firm also pointed to Rigetti’s strengthened balance sheet, which holds approximately $575 million in cash with no debt following a successful $350 million equity offering in June 2025. This financial footing is expected to support operations and R&D for at least the next three years.
Technologically, Cantor is impressed by the performance of Rigetti’s 84-qubit Ankaa-3 system, which has achieved industry-leading 99.5% median fidelity for its two-qubit gates. While quantum computing is still in its infancy, Cantor believes Rigetti is well-positioned to benefit as the technology matures.
The investment firm views the stock’s approximate 22% year-to-date correction as an attractive entry point for investors. Cantor’s $15 price target is based on a 10.1x EV/Sales multiple on the present value of its 2035 revenue forecast.
Meanwhile, on May 15, Benchmark reiterated its Buy rating for the company, maintaining a price target of $14. The day before, Needham maintained its Buy rating while adjusting its price target from $17 to $15.
Price Action: According to data from Benzinga Pro, RGTI shares are trading higher by 10.7% to $12.54 Wednesday afternoon. The stock has a 52-week high of $21.42 and a 52-week low of $0.66.
Read Also: Rigetti Stock Sinks After Q1 Revenues Miss Estimates
How To Buy RGTI Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Rigetti Computing’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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