Rigetti's Quantum Roadmap Takes Center Stage as Analyst Targets Stretch to $40

Rigetti Computing stock jumps 14.6% as quantum firm prepares for Needham conference, with analyst targets from $20 to $40 and Q1 2026 revenue expected to double.

Rigetti Computing is riding a wave of investor enthusiasm, with its stock surging roughly 14.6% over the past week as the company prepares to showcase its technological progress at a major industry conference. The quantum computing specialist has drawn sharply divergent price targets from Wall Street, ranging from $20 to as high as $40, reflecting both optimism and uncertainty about its trajectory.

The stock climbed around 7% in Wednesday's session to trade at €16.80, though it remains well below its 52-week peak of over €48. The current level represents a significant recovery from the year's low of €11.30, suggesting growing confidence in the company's operational execution.

Analyst Divergence and Growth Drivers

Northland Capital Markets has set a $20 price target, positioning Rigetti as a key player in addressing the computational demands of artificial intelligence. The firm argues that quantum systems are uniquely suited to tackle complex optimization problems that conventional chips struggle with. Mizuho and Rosenblatt Securities take a more aggressive stance, targeting $33 and $40 respectively.

The company's financial trajectory supports some of this enthusiasm. When Rigetti reports first-quarter results in May 2026, analysts expect revenue to jump to approximately $4.1 million, more than double the previous quarter's figure. This growth is fueled by deliveries of its Novera computing units and a major contract from India.

Technical Milestones and International Expansion

Rigetti has made its 108-qubit Cepheus system generally available, with customers accessing it through Amazon Braket. The system employs a specialized chiplet architecture using superconducting qubits, a technology that promises high computational speeds and improved scalability.

The company is simultaneously pushing into new markets. A significant order from India is bolstering the order book, while plans for £100 million in UK investments signal long-term commitment to European operations. Management's ambition extends to deploying a system with over 150 qubits by the end of 2026.

Investor Engagement at Needham Conference

CEO Dr. Subodh Kulkarni and CFO Jeff Bertelsen are scheduled to appear at the Needham Technology Conference later this month. The event will feature a public discussion and direct meetings with investors, where the leadership team plans to provide updates on chip architecture and the broader technology roadmap.

Market observers will be particularly focused on details regarding error rates in the new systems, a critical metric for quantum computing's commercial viability. The conference appearance offers Rigetti an opportunity to reinforce investor confidence as it navigates the gap between its current market valuation and the lofty price targets set by some analysts.