Yahoo Finance·2026-02-21 13:00Core Insights - Rigetti Computing is a key player in the quantum computing sector, offering various quantum computers including the flagship Ankaa-3 and the modular Cepheus-1-108Q, which is expected to be commercially released by the end of Q1 2026 [1][6] - The global quantum computing market was valued at $1.44 billion in the previous year and is projected to grow to $19.44 billion by 2035, indicating a compound annual growth rate of approximately 30% [4] - Rigetti has received an order worth $8.4 million from India's Centre for Development of Advanced Computing for a 108-qubit quantum computer, scheduled for installation in Bengaluru [7] Company Overview - Rigetti has been operational since 2013, focusing on the design, construction, and marketing of superconducting quantum integrated circuits and processor chips [2] - The company emphasizes flexibility in its offerings to attract customers, with systems designed for both standalone and expanded configurations [1] Financial Performance - In Q3 2025, Rigetti reported revenues of $1.9 million, a decline of 19% year-over-year, and an operating loss of $20.5 million, with a non-GAAP net loss of $10.7 million [9] - The stock has faced downward pressure due to high competition from major players like IBM and Honeywell, as well as operational challenges [8] Analyst Insights - TD Cowen analyst Krish Sankar has a Hold rating on Rigetti, citing balanced risk/reward dynamics but highlighting concerns over cash burn and competitive pressures [10][11] - The consensus rating for Rigetti is Moderate Buy, with an average price target suggesting a potential upside of 133% from the current stock price of $16.6 [11]