TLDR
- Rigetti Computing stock surged 18.6% Thursday to $35.40, marking a new intraday record of $35.81
- The quantum computing company landed $5.7 million in orders for two Novera systems from commercial clients
- Six analysts rate RGTI as a buy, with B. Riley’s $35 price target leading the pack
- Trading volume jumped 107% above average as 144.8 million shares traded hands
- The quantum sector rallied together with D-Wave up 12% and IonQ gaining 7.5%
Rigetti Computing stock jumped to a record high Thursday. Shares climbed 18.6% to close at $35.40 after touching an intraday peak of $35.81.

The rally caps three straight days of gains. Trading activity exploded with volume up 107% from typical levels as 144.8 million shares changed hands.
The momentum started September 30 when the company announced new orders. Rigetti secured purchase orders for two Novera quantum computing systems worth $5.7 million total.
One buyer is an Asian technology manufacturing company. The other customer is a California start-up working in applied physics and artificial intelligence.
Both systems will ship in the first half of 2026. The company chose not to name either buyer publicly.
Wall Street Backing Grows
Analysts have been raising their sights on RGTI stock. B. Riley boosted its price target from $19 to $35 on September 22, maintaining a buy rating.
Benchmark lifted its target from $14 to $20 in mid-August. Needham & Company increased its objective from $15 to $18 in early August.
Williams Trading set a $20 target while Alliance Global Partners kept its buy rating. Six analysts currently rate the stock as a buy with an average target of $19.71.
The company reported Q2 earnings on August 12. Rigetti posted a $0.05 per share loss, beating estimates by $0.01.
Revenue reached $1.8 million versus analyst expectations of $1.87 million. The company operates with a negative net margin of 2,134.92%.
Market Performance and Trading
Rigetti now carries an $11.48 billion market cap. The stock trades with a beta of 1.59 and a negative P/E ratio of 46.58.
The 50-day moving average sits at $18.81. The 200-day moving average stands at $13.71.
Year-to-date, shares have gained 124%. Over the past 12 months, the stock has rocketed more than 4,470%.
Insider selling picked up in September. Director Helene Gail Sandford sold 25,000 shares at $18.54 on September 12 for $463,500.
Director Michael S. Clifton unloaded 75,000 shares the same day at $19 each. That transaction totaled $1.43 million.
Quantum Sector Catches Fire
The enthusiasm spread across quantum computing stocks Thursday. D-Wave Quantum shares rose 12% while IonQ added 7.5%.
Quantum Computing stock gained 6.2% during the session. The S&P 500 remained flat as quantum names rallied.
Institutional ownership stands at 35.38% of outstanding shares. GAMMA Investing LLC increased its stake by 25.6% in Q3 to 2,878 shares.
Osaic Holdings Inc. grew its position 119.2% in Q2, now holding 260,307 shares. Marex Group plc initiated a new $87.4 million position in the second quarter.