Rigetti Computing: Cantor's Bullish Call May Be Just the Start
Wall Street is taking a fresh, bullish look at quantum computing pioneer Rigetti Computing (NASDAQ: RGTI). For months, investors have weighed the company’s incredible long-term promise against the high costs of developing its technology.
However, a series of smart financial and strategic moves has provided a much clearer picture of Rigetti’s path forward. This has led to a growing chorus of positive analyst ratings, suggesting that recent developments have fundamentally improved the company's outlook, making it a key stock to watch in the quantum computing sector.
A Chorus of Confidence: Why Analysts Are Backing RGTI
The latest bullish signal of this growing confidence came at the beginning of July 2025. Cantor Fitzgerald initiated coverage on Rigetti with an Overweight rating and set a $15.00 price target. This move is important because it reinforces a broader trend of optimism.
Cantor Fitzgerald now joins a group of at least five other Wall Street firms that hold a unified Buy or equivalent rating on the stock. Together, these analysts have an average 12-month price target of $14.20, pointing to an attractive potential upside from its current price. For investors, this unified positive rating should serve as a powerful indicator, signaling that the company’s strategy is gaining traction and credibility.
Fuel for the Future: Rigetti's $575 Million Cash Position
The biggest factor driving this optimism is Rigetti's vastly improved financial health. In early June 2025, the company announced it had completed a $350 million stock offering. This move, known as an at-the-market offering, allows a company to sell shares over time to raise capital efficiently.
This successful raise has fortified Rigetti's balance sheet to a game-changing degree. The company now holds approximately $575 million in cash and investments, and importantly, it carries no debt. This fortified financial position gives Rigetti several key advantages:
- A Long Operational Runway: The cash provides the company with enough funding to operate for several years, allowing it to focus on technology without the constant pressure of raising money.
- Strength and Flexibility: It puts management in a position of strength, enabling it to fund its intense research and development while exploring new partnerships or strategic opportunities.
- Reduced Investor Risk: This financial stability eliminates one of the biggest risks for a pre-revenue tech company, providing a solid foundation for future growth.
Building the Ecosystem for Commercial Success
A strong bank account is only useful if the company holding the money has a sound strategy for spending it. Rigetti is proving it does by building an ecosystem of high-quality partners to solve the industry's toughest challenges.
The company already has a foundational manufacturing partnership with Quanta Computer, a global electronics giant. This collaboration is designed to address the long-term challenge of building complex quantum systems at scale.
More recently, Rigetti has shown its ability to execute on other key projects. It was selected for the U.S. Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking initiative, a project that validates its technology against the highest government standards.
Internationally, Rigetti is also expanding its footprint. Through the Innovate UK awards, the company is leading a project to advance quantum error correction and is upgrading the UK's National Quantum Computing Centre (NQCC) quantum computer. This strategy of partnering with leaders in manufacturing, government, and research shows that Rigetti is executing a capital-efficient plan to bring its technology to market.
Why New Strengths Outweigh Market Debates
No high-growth tech stock is without market debate, and Rigetti is a prime example. Rigetti has a short interest of roughly 20%, indicating that many traders are betting its price will decline. However, this bearish view is now directly countered by the strong bullish consensus from Rigetti’s analyst community, and it is coupled with a consistent net inflow of institutional investment.
More importantly, Rigetti is actively building the case against market doubt through tangible execution. The strategic ecosystem it is creating provides a credible and de-risked roadmap to commercialization. This demonstrates a company that is not just planning for the future, but methodically building it.
With approximately $575 million in cash and no debt, Rigetti has the resources and time to execute its long-term strategy. For investors considering Rigetti today, the landscape has undergone a fundamental shift. The powerful combination of financial security, validated strategic partnerships, and growing analyst confidence creates a compelling case that Rigetti is now better positioned for long-term success than ever before.
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