RGTI
Rigetti Computing Inc
NASDAQ: RGTI · TECHNOLOGY · COMPUTER HARDWARE
$22.70
+8.20% today
Updated 2026-06-15
Market cap
$6.97B
P/E ratio
—
P/S ratio
696.26x
EPS (TTM)
$-0.89
Dividend yield
—
52W range
$10 – $58
Volume
41.9M
Rigetti Computing Inc (RGTI) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed RGTI price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$22.70
Today
Analyst consensus
$29.24
+28.81% · 12M
2030 Base
$48.72
+114.63% future
NPV today
$26.20
@ 14% WACC
13 analysts:
8 Buy4 Hold1 Sell
Management guidance
CEO Subodh Kulkarni has not provided specific 2026-2030 revenue targets in public guidance. However, the company announced plans to invest up to $100M in the UK to develop a quantum system with over 1,000 qubits, and CEO emphasized the company is on a 3-year path to quantum advantage. Management guidance remains focused on technical milestones (108-qubit Cepheus-1-108Q general availability, gate fidelity improvements) rather than explicit revenue targets.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
RGTI · Rigetti Computing Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$25.45
NPV today: $13.69
Base case (2030)
$48.72
NPV today: $26.20
Bull case (2030)
$101.33
NPV today: $54.50
WallStSmart.com
RGTI financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $0.0B | $0.0B | $0.1B | $0.1B | $0.2B | $0.3B |
| Revenue growth | -34.3% | 223.0% | 160.0% | 111.3% | 75.0% | 55.0% |
| Net margin | — | -276.6% | -84.3% | -13.3% | 12.2% | 21.7% |
| EPS | $-0.19 | $-0.19 | $-0.15 | $-0.05 | $0.08 | $0.22 |
| Diluted shares | — | 333M | 334M | 335M | 336M | 337M |
| Net debt | — | $-427.94M | $-398.19M | $-335.29M | $-225.19M | $-54.54M |
| P/S multiple | — | 48.0x | 48.0x | 48.0x | 48.0x | 48.0x |
| Implied price (base) | — | $4.58 | $9.73 | $19.01 | $32.09 | $48.72 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $0.3B | $0.3B | $0.3B |
| P/S multiple | 25.0x | 48.0x | 100.0x |
| Diluted shares | 337M | 337M | 337M |
| Net debt | $-54.54M | $-54.54M | $-54.54M |
| Implied P/E † | 116x | 222x | 461x |
| 2030 Price | $25.45 | $48.72 | $101.33 |
| NPV @ 14% | $13.69 | $26.20 | $54.50 |
† Implied P/E: Multiples remain elevated across all three scenarios because RGTI is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $48.72 base case
RGTI catalysts and risks
Growth catalysts
+ General availability of 108-qubit Cepheus-1-108Q system driving commercial adoption across cloud platforms
+ $100M UK investment announcement and planned 1000+ qubit system development accelerating competitive positioning
+ Transition from government grant-based revenue to durable multi-year commercial contracts (evident in $8.4M India order and ~$5.7M in backlog)
+ Partnerships with NVIDIA on quantum-AI integration unlocking enterprise demand
+ Path to quantum advantage within 3 years enabling exponential commercial use cases
Key risks
- Company remains unprofitable with -$26M operating loss in Q1 2026 despite 199% YoY revenue growth; high cash burn rate ($14.7M non-GAAP net loss Q1 2026) may require future dilution
- Quantum advantage remains 3+ years away; commercial adoption still in early stages with minimal revenue ($4.4M Q1 2026) relative to $569M cash balance and $164 employees
- Direct competition from better-capitalized rivals (IBM, Google, IonQ with $61.9M Q4 2025 revenue vs RGTI's $1.9M) using same superconducting qubit technology; RGTI failed to advance to Stage 2 of DARPA Quantum Benchmarking Initiative
- Stock valuation disconnect: $6.29B market cap on $10M TTM revenue implies 629x P/S ratio; analyst downgrades cite valuation concerns and high capital intensity of quantum commercialization
- Revenue volatility: Historical revenue declined -34.31% in 2025 to $7.09M; government contract dependency creates lumpiness; customer concentration risk with large orders from single entities (India government)
Methodology · Rigetti Computing Inc 2030 stock forecast model
Rigetti Computing Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 13 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for RGTI by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-54.54M by 2030) |
| 3. Time value | NPV calculated using 14% WACC (CAPM: beta 1.801) |
| 4. Multiple framework | P/S compresses with scale: bear 25.0x / base 48.0x / bull 100.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
RGTI price target FAQ
What is the RGTI price target for 2030?
WallStSmart's Rigetti Computing Inc 2030 base case is $48.72 per share, with a bull case of $101.33 and bear case of $25.45. The NPV of the base case discounted to today at 14% WACC is $26.20.
How is the Rigetti Computing Inc 2030 stock forecast calculated?
The RGTI 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the RGTI price target account for dilution?
Rigetti Computing Inc is projected to grow diluted share count from 332M to 337M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on RGTI stock?
13 analysts cover RGTI with an average 12-month price target of $29.24. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.