Rigetti Computing’s Quantum Hardware Hits the Cloud as Rosenblatt Stands by $40 Target
11.06.2026 - 23:54:33 | boerse-global.de
Rigetti Computing has landed a nonbinding agreement for up to $100 million in CHIPS Act funding from the U.S. Department of Commerce, with the government potentially taking a minority stake in return. The cash injection, paired with the company’s existing liquidity of roughly $418 million, provides a deep well of capital as it pushes toward commercial quantum computing. Yet the financial picture is far from unblemished: the company posted an operating loss of $25.9 million in the first quarter of 2026, underscoring the heavy development costs still weighing on the bottom line.
Revenue, however, tells a more encouraging story. First-quarter sales surged 193% to $4.4 million, driven primarily by sales of the “Novera” systems. That top-line acceleration reflects Rigetti’s shift from a pure research outfit to a hardware supplier targeting governments and academic institutions.
Central to that push is the new Cepheus-1-108Q processor, a 108-qubit chip now available on major cloud platforms including Amazon Braket and Microsoft Azure. Rigetti claims a median two-qubit gate fidelity of 99.1% with switching times around 60 nanoseconds — metrics it touts as industry-leading. The chip’s cloud deployment marks a key step in the company’s 2026 roadmap, which envisions a broader expansion into the research sector.
Should investors sell immediately? Or is it worth buying Rigetti?
The commercial progress has not insulated the stock from internal signals of caution. Several executives, including the chief technology officer, have sold shares in recent weeks. The company has framed those transactions as routine tax-related sales tied to equity compensation, but the pattern has fueled chatter on trading desks about near-term sentiment risk.
Against that backdrop, Rosenblatt Securities reiterated its “Buy” rating and $40 price target on June 11, 2026, sending the stock up 7.82% to €18.30 on Thursday. From that level, the target implies more than a doubling. The shares remain 62% below their 52-week high of €48.36 set in October 2025, and they are down 9.4% year-to-date.
Technically, the stock sits about 12% above its 50-day moving average, with a relative strength index of 49.5 — neutral territory. The 30-day return stands at roughly 13%, but Thursday’s rally was largely a analyst-driven response rather than a broad shift in fundamentals.
The decisive data points for investors remain the operational execution of the CHIPS Act funding and the next batch of order figures. As long as the cloud expansion and government backing hold together, Rosenblatt’s $40 target remains more than a footnote in Rigetti’s turnaround narrative.
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Rigetti Stock: New Analysis - 11 June
Fresh Rigetti information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
