Rigetti Computing, Inc. (NASDAQ:RGTI) has declined more than 21% over the past month, mainly due to share dilution concerns and extreme valuation multiples.
However, the Street remains bullish on the stock, with analysts’ 12-month price target suggesting more than 80% upside from the current level
It is also one of the Best Quantum Computing Stocks to buy and Hold Forever. The bullish sentiment is based on Rigetti Computing, Inc. (NASDAQ:RGTI)’s impressive fiscal Q1 2026 revenue growth, representing around 193% year-over-year growth to $4.4 million. Management attributed growth to on-premises Novera QPU deliveries and new government research contracts.
This has led to analysts projecting revenue to triple by the end of 2026, compared to last year. On the other hand, the decline in share price has been linked to valuation, which remains under intense scrutiny. Analysts highlight the company’s price-to-sales ratio compared with that of its peers.