Rigetti Computing: Benchmark Maintains Buy Rating, Raises Price Target to $20

Rigetti Computing: Benchmark Maintains Buy Rating, Raises Price Target to $20

Rigetti Computing, Inc. (NASDAQ: RGTI) experienced a notable boost in its stock price on July 2, 2025, following an upgrade in its analyst rating by Benchmark. The stock price surged by 2.1% during mid-day trading, reaching a high of $16.86 and last trading at $16.09 [1].

Benchmark Research, a well-known investment research firm, maintained its "buy" rating on Rigetti Computing but increased its price target from $15.00 to $20.00. This upgrade reflects the firm's optimism about Rigetti Computing's potential in the quantum computing sector. The upgrade comes amidst a series of analyst upgrades and positive market sentiment surrounding the company.

Rigetti Computing has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Rigetti Computing, setting an "overweight" rating and a $15.00 target price. Benchmark reiterated a "buy" rating and set a $14.00 price target. Alliance Global Partners restated a "buy" rating, and B. Riley upped their target price from $15.00 to $19.00. Industrial Alliance Securities set a $18.00 price target. Six investment analysts have rated the stock with a buy rating, with an average rating of "Buy" and a consensus target price of $16.00 [1].

The stock's recent performance has been driven by high interest in quantum technology and the company's advancements in quantum computing hardware. Rigetti Computing, through its subsidiaries, builds quantum computers and offers quantum computing as a service. The company's market capitalization stands at $4.52 billion, with a price-to-earnings ratio of -22.25 and a beta of 1.44. The firm's 50-day simple moving average is $13.25 and its two-hundred day simple moving average is $11.36 [1].

Investors are eagerly awaiting Rigetti Computing's Q2 2025 earnings report, scheduled for August 12. Analysts anticipate a narrower quarterly loss of $0.05 per share, with revenue forecast to slide 39% to $1.87 million [2]. The earnings report will provide crucial insights into the company's trajectory and the broader market's perception of its potential.

References:
[1] https://www.marketbeat.com/instant-alerts/rigetti-computing-nasdaqrgti-shares-up-21-on-analyst-upgrade-2025-08-05/
[2] https://www.ainvest.com/news/rigetti-computing-quantum-earnings-high-risk-high-reward-moment-2508/