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Is RGTI a good stock to buy in 2026?

RGTI (Rigetti Computing, Inc.) presents a complex investment profile with both promising prospects and significant risks. Its P/E ratio of -20.82x stands significantly below the Computer Hardware sector average of 30.0x, potentially signaling undervaluation on this metric, though a negative P/E primarily indicates unprofitability. However, the Discounted Cash Flow (DCF) fair value of $-0.16 suggests the stock is currently overvalued by a substantial -101.1%, despite a strong 85.7% analyst buy rating. This makes the question “is RGTI a good stock” highly dependent on an investor’s risk tolerance and belief in quantum computing’s future.

2026 RGTI price scenarios

Based on analyst consensus of $38.33 from 7 analysts. Not a prediction by Alert Invest.

About Rigetti Computing, Inc. (RGTI)

Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

Under the leadership of CEO Subodh K. Kulkarni, Rigetti Computing, Inc. is at the forefront of the nascent but rapidly evolving quantum computing industry. With approximately 137 employees, the company distinguishes itself through its vertically integrated approach, designing and building its own quantum processors and integrating them into its Quantum Cloud Services platform. This full-stack strategy allows for tight control over hardware and software innovation, aiming to accelerate the development and accessibility of practical quantum solutions for complex computational challenges.

RGTI competitive moat and business analysis

Rigetti Computing operates in the highly specialized and capital-intensive field of quantum computing, a sector still largely in its foundational stages. While the company’s reported gross margin of 29.12% indicates some pricing power on its offerings, its net margin of -3050.37% highlights significant unprofitability, typical for early-stage, high-growth technology companies focused on R&D. Traditional metrics like Return on Equity (ROE) and Return on Invested Capital (ROIC) are currently N/A, reflecting the company’s early investment phase rather than mature operational profitability. The primary competitive advantage, or ‘moat,’ for RGTI stock lies in its pioneering intellectual property and expertise in superconducting quantum processors, creating high barriers to entry for newcomers.

As an integrated systems company, Rigetti’s revenue streams in fiscal year 2025 largely derive from its core quantum computing systems and related services. Specific segment breakdowns for FY2025 are tied to its overall integrated systems operations, focusing on delivering its Quantum Cloud Services and quantum hardware. Geographically, as per the fiscal year 2022 data, Rigetti Computing’s operations are primarily concentrated within the United States, which aligns with the strategic focus on developing and commercializing quantum technologies within key domestic markets before broader international expansion.

The moat trend for RGTI stock faces challenges, as evidenced by its revenue growth of -34.3%. This contraction suggests that the company is navigating a difficult period, possibly due to the lumpy nature of early-stage technology adoption or shifts in strategic focus. Without a recent transcript quote, it’s hard to pinpoint specific management commentary, but such a decline in revenue is a critical point for investors considering RGTI valuation. The long-term strength of Rigetti’s moat will depend on its ability to convert its technological lead into sustainable commercial revenue and market share.

When assessing the broader technology landscape, comparing RGTI stock to diverse peers like Bilibili (BILI), CACI International (CACI), and Duolingo (DUOL) highlights the unique position of quantum computing. While BILI operates in online entertainment, CACI in government services, and DUOL in language education, RGTI occupies a frontier technology space. These comparisons underscore the distinct risk and reward profile of RGTI, which is less about current market share in established niches and more about capturing future value in a paradigm-shifting industry. Investors should perform detailed analyses like RGTI vs BILI, RGTI vs CACI, or RGTI vs DUOL to understand the differing financial health and growth trajectories across the broader Technology sector.

Rigetti Computing, Inc. analyst rating

Based on 7 analysts. 85.7% rate RGTI Buy or Strong Buy.

An 85.7% Buy rating from analysts is notably strong for a company in the highly speculative quantum computing sector within Technology. This high conviction suggests a belief in Rigetti’s long-term potential despite its current financial challenges and negative profitability.

Is RGTI undervalued or overvalued?

Understanding RGTI valuation requires a careful look at its unique position as an early-stage, high-growth technology company. The reported P/E ratio of -20.82x is significantly lower than the Computer Hardware sector average of 30.0x. While a negative P/E typically indicates unprofitability, it can also suggest that investors are valuing future growth rather than current earnings. In Rigetti’s case, the negative P/E signals that the company is currently not generating positive earnings, which is common for innovative firms investing heavily in R&D.

However, the Discounted Cash Flow (DCF) model, a fundamental valuation tool, indicates a fair value of $-0.16 for RGTI stock. This implies a substantial overvaluation of -101.1% when compared to its current market price. This discrepancy between a low (negative) P/E and a significantly negative DCF suggests that while the market may be anticipating future potential, a purely intrinsic valuation points to a challenging current RGTI valuation. Investors should weigh the speculative growth potential against these fundamental valuation signals when considering RGTI stock.

RGTI financial health & key metrics

For value investors, Rigetti Computing presents a challenging picture. While the company boasts a remarkably low debt-to-equity ratio of 0.01x and a healthy current ratio of 37.42x, indicating robust balance sheet strength, its profitability metrics are deeply negative. Both net margin (-3050.37%) and FCF yield (-1.6%) signal significant cash burn, which is a major concern. The -34.3% revenue growth further indicates a contraction in its top line, rather than expansion. Coupled with a negative DCF fair value, these factors suggest that RGTI stock is currently not aligned with traditional value investment principles, prioritizing speculative growth potential over established financial performance.

Rigetti Computing, Inc. earnings history & next report

Rigetti Computing, Inc. reported EPS of $-0.03, beating estimates by 40.0%. Next earnings: 2026-05-11 with EPS estimate of $-0.05.

Rigetti Computing, Inc. surprised analysts by reporting an EPS of $-0.03, beating estimates by 40.0%. This beat, while still negative, offers a glimmer of operational improvement. Looking ahead to the next earnings report on 2026-05-11, investors should closely monitor the EPS estimate of $-0.05. Key areas to watch include any updates on commercial partnerships, progress in scaling quantum chip production, and signs of improving revenue trends. Commentary on customer acquisition and the timeline for achieving positive free cash flow will be crucial for assessing the future trajectory of RGTI stock.

RGTI daily short volume

Short volume data from FINRA CNMS Consolidated — shares sold short in the most recent US trading session. A high short ratio can signal bearish conviction or a potential short squeeze. Updated every trading day.

RGTI insider trading activity

Corporate insiders must report trades to the SEC within two business days.

Source: SEC Form 4 via EDGAR · Data: Financial Modeling Prep · Not investment advice

Recent RGTI analyst rating changes

Rigetti Computing, Inc. stock news today

How does RGTI compare to its peers?

For investors considering RGTI stock, it’s insightful to compare its profile against other companies in the broader Technology sector, even those in different sub-industries. While Rigetti is a pure-play quantum computing specialist, examining how it stacks up against companies like Bilibili, CACI International, and Duolingo can provide a different perspective on market dynamics, growth potential, and risk factors.

FAQ — Rigetti Computing, Inc. (RGTI) stock