Rigetti Computing Just Got a New Street-High Price Target. Should You Buy This Winning Quantum Computer Stock Here?

Core Insights - Rigetti Computing (RGTI) has gained attention after B. Riley analyst Craig Ellis raised the price target to $35, significantly above the consensus forecast of $21, reflecting confidence in the company's market potential and execution [1][4]. Company Developments - Rigetti recently launched the Cepheus-1-36Q, a 36-qubit processor that achieved 99.5% fidelity and halved two-qubit gate errors, validating its chiplet-based scaling approach [3]. - The company aims to deliver a 100+ qubit chiplet system by the end of 2025, indicating strong growth potential while maintaining performance [3]. Financial Performance - RGTI's market cap is valued at $10 billion, with a one-year price performance increase of over 4100%, significantly outperforming the sector's 15% [4]. - The stock's price-to-sales (P/S) ratio has reached 893, far exceeding the sector median of 4, suggesting that the stock may be overpriced compared to peers [5]. Market Behavior - RGTI's stock has exhibited extreme volatility, with sharp price swings linked to funding developments, partnerships, and advancements in quantum computing technology [4].