Key Takeaways
- Rigetti Computing stock has fallen 49% over the past year, sliding from an intraday peak near $77 in early November 2025 to $16.01 as of September 23.
- The stock carries 8 buy ratings, 1 outperform and 4 holds, with zero sells on the books right now. Separately, 12 analysts publish a price target, and their mean sits at $28.81, about 80% above the current price.
- CEO Subodh Kulkarni sold 120,000 shares for $1.88 million on September 9 and CFO Jeffrey Bertelsen sold 25,000 shares for $375,010 on September 3, both selling into the same week Rigetti signed a $100 million federal quantum computing deal.
- Analyst coverage on Rigetti stock has grown from 5 estimates a year ago to 12 today, and the Street kept its mean target above the stock price through nearly the entire stretch, even as the price itself cratered.
Rigetti Stock’s Brutal Year Meets a $100 Million Government Lifeline
Rigetti Computing (RGTI) stock has lost 49% of its value over the past year, and the chart tells a story of a spike that gave almost all of it back. Shares touched roughly $77 in early November 2025 during the broader quantum computing rally, then spent the next ten months grinding lower to $16.01 by September 23.
The decline found a floor on September 8, when Rigetti signed a definitive $100 million agreement with the U.S. Department of Commerce to accelerate superconducting quantum computing research and development under the CHIPS Act. Shares jumped 7.2% that session, and rivals D-Wave and Quantinuum moved on similar CHIPS awards the same day, with Commerce taking a minority, non-controlling equity stake in Rigetti as a condition of the funding. The deal followed a Q2 report in which Rigetti posted a $28.1 million operating loss against revenue of just $5.1 million, still short of the $5.15 million analysts expected, so the federal award landed as the clearest positive catalyst the stock had seen since the crash began.
What complicates that read is timing. Kulkarni sold 120,000 shares at $15.68 on September 9, one day after the CHIPS news broke, cutting his direct stake to 140,411 shares. Bertelsen had already sold 25,000 shares at $15 on September 3, taking his stake to 168,067. Both exercised options at a fraction of the market price before selling, standard mechanics for executive compensation, but the sales still put insiders on the selling side of a stock the government just backed and the Street still rates a buy.
The government deal gives Rigetti stock a credibility floor it didn’t have a month ago. Whether that floor holds depends on whether the company can convert federal R&D funding into the kind of deployment revenue that’s been missing all year.
Why the Street Hasn’t Walked Away From Rigetti Stock
Rigetti stock currently carries 8 buy ratings, 1 outperform rating and 4 holds, with no sell ratings on the books. Separately, 12 analysts publish a price target on the stock, and their mean sits at $28.81, which puts the target 80% above the September 23 close of $16.01.
That premium has been a constant through a wild year. Back on September 30, 2025, the stock itself briefly outran the Street, closing at $29.79 against a mean target of just $21.83, a rare stretch where the market priced Rigetti stock above what analysts thought it was worth. Once the pullback started, analysts didn’t chase the price down. By December 31, the mean target had jumped to $38.24 even as the close fell to $22.15, and by March 31, 2026, with the stock at $14.04, the target still sat at $31.54, a gap of 225%.
The mean target has come off that high alongside the price, landing at $28.81 today, but the Street has held a buy-heavy stance through the entire round trip. Coverage has widened at the same time, from 5 analysts publishing targets a year ago to 12 now, which means more desks are willing to put a number on the stock, not fewer, even as the business itself keeps posting revenue misses.
Should You Invest in Rigetti Computing, Inc.?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
