RGTI Should I Buy
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Rigetti Computing Inc (RGTI) is not a strong buy for a beginner investor with a long-term strategy at this moment. While the company operates in a promising quantum computing sector, the pre-market price drop (-2.84%), bearish technical indicators, and mixed analyst ratings suggest caution. The company's financials show declining revenue and significant net losses, and there are no strong proprietary trading signals or recent congress trading data to support a buy decision. The investor should wait for clearer positive catalysts or improved fundamentals before considering an entry.
The stock shows bearish moving averages (SMA_200 > SMA_20 > SMA_5), indicating a downward trend. The RSI is neutral at 69.957, and the MACD is positive at 0.469, suggesting slight momentum but not enough to counteract the bearish trend. Key support levels are at 15.113 and 14.068, while resistance levels are at 18.493 and 19.538. The pre-market price of $18.11 is near resistance, indicating limited upside potential.
Quantum computing sector projected to create $450 billion to $850 billion in global economic value by
Rigetti's position as a leader in superconducting qubit modality with potential long-term growth opportunities.
Encouraging analyst upgrade from B. Riley citing valuation and near-term commercial trajectory.
Pre-market price drop of -2.84%.
TD Cowen downgrade to Hold citing premium valuation and competition headwinds.
Financials show declining revenue (-18.12% YoY) and significant net losses (-$200.97M).
Exclusion from DARPA's Quantum Benchmarking Initiative Stage B program.
Increasing competition from major tech firms like Alphabet.
In Q3 2025, Rigetti's revenue dropped by -18.12% YoY to $1.947M. Net income improved but remains significantly negative at -$200.97M (+1254.87% YoY). EPS improved to -0.62 (+675% YoY), but gross margin fell sharply to 20.75% (-59.02% YoY), reflecting operational challenges.
Analyst sentiment is mixed. TD Cowen downgraded the stock to Hold, citing valuation concerns and competition. B. Riley upgraded it to Buy, citing valuation and near-term trajectory. Wedbush and Mizuho initiated coverage with Outperform ratings, highlighting Rigetti's leadership in quantum computing and scalability potential. Jefferies initiated with a Hold, citing execution risks and government-dependent revenue.
