Rigetti Computing (RGTI) Stock: $8.4M Quantum Order Has Analysts Raising Targets

TLDR

• Rigetti Computing received an $8.4 million order for a 108-qubit quantum computer, showing growing demand for on-premises quantum systems
• Wedbush Securities raised its price target to $40 from $35 while maintaining an Outperform rating on the stock
• Four months ago, Rigetti secured $5.7 million in orders for two 9-qubit Novera systems scheduled for early 2026 delivery
• The analyst views these purchase orders as validation of Rigetti’s superconducting quantum computing approach
• Wall Street gives Rigetti a Moderate Buy rating with an average price target of $39.78, suggesting 59% upside potential

Rigetti Computing shares moved higher in premarket trading after landing an $8.4 million order for a 108-qubit quantum computer. The deal marks another step forward for the quantum computing company.

Rigetti Computing, Inc., RGTI

Wedbush Securities analyst Antoine Legault responded quickly to the news. He kept his Outperform rating on Rigetti but raised his price target to $40 from $35.

The order signals something interesting happening in the quantum computing space. Customers are starting to buy their own systems instead of just using cloud-based quantum computing services.

This isn’t Rigetti’s first rodeo with system sales. Four months back, the company announced $5.7 million in orders for two smaller 9-qubit Novera systems. Those machines are set for delivery in early 2026.

Growing Interest in On-Premises Systems

Legault sees a pattern forming. National governments and research institutions are investing in on-site quantum computers to work alongside their traditional computing infrastructure.

The analyst expects commercial customers to follow the same path. As the technology matures, more businesses will want their own quantum systems on hand.

Purchase orders carry extra weight in quantum computing right now. The field is still young and nobody knows for sure which companies will dominate long-term.

When technically skilled buyers place orders, they’re making a bet on which technology will win. These customers are backing Rigetti’s superconducting approach over competing methods.

What Comes Next

Legault thinks more orders are on the way. He points to Rigetti’s ability to scale up qubit counts as a key factor.

Performance improvements matter too. System accuracy needs to reach 99.9% or higher for broader adoption.

The analyst calls selling complete quantum systems the “natural evolution” of the industry. Customers and partners will increasingly make similar purchases as systems get better.

Wall Street analysts give Rigetti a Moderate Buy rating based on 11 ratings. The average price target sits at $39.78, which would mean 59% upside from current levels.

The latest order shows real customers are willing to spend serious money on quantum computing hardware. Rigetti continues to deliver systems while scaling up its technology.

The company secured orders totaling $5.7 million four months ago. Now it’s landed an even larger $8.4 million deal for a more powerful 108-qubit system.

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