Dear Rigetti Stock Fans, Mark Your Calendars for November 10

The first half of October saw Rigetti Computing's (RGTI) stock nearly double on the back of $5.7 million worth of sales for its 9-qubit Novera quantum computing systems. The two systems are expected to be delivered in the first half of 2026. The stock has dropped significantly since then, though still not to the pre-announcement levels. 

Last week, RGTI stock was downgraded to “Neutral” by B. Riley, with the target price raised from $35 to $42. Even though analysts continue to keep a close eye on the commercial developments, they believe it is time to step away from the stock, as a lot of the commercial success in the upcoming years is priced in. They expect the company to beat estimates at the Nov. 10 earnings, but nothing significant is expected on the guidance front, especially considering the delays in government funding.