Benchmark Raises Rigetti Computing's Target Price to $50, Representing a 150% Increase

Benchmark analyst David Williams raised Rigetti Computing's (RGTI) target price to $50, a 150% increase from the previous target, maintaining a "Buy" rating. This follows a series of consistent upgrades from various analysts over the past few months, driven by the potential growth and performance of the company in the quantum computing sector.

Rigetti Computing's stock price experienced a notable increase of 5.3% on Tuesday, October 7, 2025, following an upgrade from Benchmark, which raised its price target from $20.00 to $50.00 Rigetti Computing (NASDAQ:RGTI) Stock Price Up 5.3% on Analyst Upgrade^[1]. The upgrade came as a result of positive analyst sentiment, with David Williams from Benchmark maintaining a "Buy" rating and citing sector momentum and potential re-rating ahead What's Going On With Rigetti Computing Stock Today?^[2].

The upgrade was not the first positive signal for Rigetti Computing. Over the past few months, several analysts have consistently upgraded the company's stock. On July 16, Alliance Global Partners restated a "buy" rating, while Cantor Fitzgerald initiated coverage with an "overweight" rating and a $15.00 price objective Rigetti Computing (NASDAQ:RGTI) Stock Price Up 5.3% on Analyst Upgrade^[1]. Industrial Alliance Securities set a $18.00 price objective, and Needham & Company LLC boosted their price objective from $15.00 to $18.00 and gave the company a "buy" rating Rigetti Computing (NASDAQ:RGTI) Stock Price Up 5.3% on Analyst Upgrade^[1].

The positive analyst sentiment is driven by Rigetti Computing's potential in the quantum computing sector. The company's modular design and strong government and private sector contracts position it favorably in the space. Additionally, Rigetti Computing's healthy balance sheet, which includes $575 million in cash following a recent capital raise, adds to its attractiveness What's Going On With Rigetti Computing Stock Today?^[2].

Despite the recent upgrades, Rigetti Computing still faces challenges. The company reported a negative return on equity of 29.05% and a negative net margin of 2,134.92% for the quarter ending August 12, 2025 Rigetti Computing (NASDAQ:RGTI) Stock Price Up 5.3% on Analyst Upgrade^[1]. However, the company's revenue of $1.80 million during the quarter was close to analysts' expectations of $1.87 million.

Institutional investors and hedge funds have also shown interest in Rigetti Computing. Several institutional investors, including California State Teachers Retirement System and GAMMA Investing LLC, have recently increased their stakes in the company Rigetti Computing (NASDAQ:RGTI) Stock Price Up 5.3% on Analyst Upgrade^[1].

Rigetti Computing's stock performance has been impressive, with a market cap of $14.23 billion, a P/E ratio of -57.78, and a beta of 1.60. The company's stock has a 50-day moving average of $20.21 and a 200-day moving average of $14.38 Rigetti Computing (NASDAQ:RGTI) Stock Price Up 5.3% on Analyst Upgrade^[1].

While Rigetti Computing faces challenges, the positive analyst sentiment and the company's potential in the quantum computing sector make it an attractive investment opportunity for investors and financial professionals.