Rigetti Computing’s latest quantum hardware win in India and a fresh target hike from Wedbush have sharpened investor attention on one of the market’s most volatile quantum stocks. Instead of sparking an immediate rally, however, the twin catalysts arrived alongside a pullback, underscoring how fragile sentiment remains around Rigetti’s long term story. I see the tension between upbeat fundamentals and choppy trading as the real signal for anyone trying to make sense of where Rigetti goes next.
Wedbush’s bold target collides with a red day for RGTI
Analysts at Wedbush have dramatically reset expectations for Rigetti Computing, lifting their target price from $35.00 to a far higher level and reiterating their view that the stock can climb from here. The call focuses squarely on Rigetti Computing’s positioning in quantum hardware and its growing roster of institutional customers, arguing that the company’s technology pipeline and commercial traction justify a richer valuation for NASDAQ ticker RGTI. In my view, that kind of aggressive reset is less about where the stock traded this week and more about where Wedbush thinks the business could be once current projects and contracts begin to scale.
The market’s initial reaction, however, did not match the bullish tone of the research note. On the same day the Wedbush target was publicized, Rigetti shares were described as trading down 5.3% intraday to about $23.67, with trading volume surging to roughly 47.9 million shares compared with a 34.6 million average, figures that were rounded in the report as 47 and 34 million. That disconnect between a sharply higher target and a negative price move tells me investors are still treating Rigetti as a high beta trade, quick to take profits or cut risk even when the fundamental narrative appears to improve.
Heavy volume, steep swings and a still speculative profile
The trading data around Rigetti underline just how speculative the stock remains, even as it lands marquee contracts. On the day highlighted in the coverage, Rigetti Computing Inc RGTI on the NASDAQ was shown with a Close of 23.67, a move of -1.32 that translated into a decline of 5.28%, on a Volume of 46,756,416 shares. The same snapshot showed a 52 week range that stretched from 6.86 on the low end to a high above 50, a span that captures just how violently sentiment has swung around the name over the past year. When I look at a chart with that kind of amplitude, I see a stock that is still trading more on expectations and headlines than on steady cash flows.
That volatility is not occurring in a vacuum. Quantum computing remains an early stage field, and Rigetti’s valuation is being marked to a future in which its systems and services are widely adopted by governments, research institutions and enterprises. The fact that the stock can fall more than 5% on a day when bullish research and positive contract news are in the air suggests that traders are quick to fade strength and that long term investors are still a minority in the shareholder base. For anyone considering a position, I think the combination of a 52 week low at 6.86 and a recent price in the mid 20s is a reminder that position sizing and risk tolerance matter as much as conviction in the technology.
India’s 108 qubit order gives the business case real weight
Behind the stock tape, Rigetti’s commercial progress is starting to look more concrete, particularly in international markets. The company announced that Rigetti Computing India P L, a wholly owned subsidiary of Rigetti Computing, secured an order for a 108 qubit quantum computer from India’s Centre for Development of Advanced Computing, or C-DAC, with the system to be delivered in BERKELEY, Calif and integrated into India’s national high performance computing infrastructure in the second half of 2026 according to the Rigetti Computing India announcement. For a company that has long pitched itself as a full stack quantum provider, landing a 108 qubit deployment with a government backed research hub is a meaningful validation of both its hardware roadmap and its ability to navigate complex public sector procurement.
I see this Indian contract as especially important because it ties Rigetti’s fortunes to a broader national push on advanced computing rather than a single corporate pilot. C-DAC is a central player in India’s supercomputing and digital infrastructure strategy, so embedding a Rigetti system into that environment could create follow on opportunities in areas like climate modeling, materials science and cryptography. The fact that the order is being fulfilled through Rigetti Computing India P L also signals that the company is willing to invest in local presence and partnerships, a factor that often matters when governments decide which foreign technology vendors to trust with sensitive workloads.
Reconciling analyst optimism with market skepticism
When I put the Wedbush target hike next to the Indian 108 qubit order and the stock’s negative move on the day of the research note, what emerges is a picture of a company whose fundamentals are improving faster than its shareholder base is stabilizing. On one side, a major analyst is arguing that Rigetti Computing’s shares can rise significantly from current levels, pointing to its differentiated quantum hardware and growing contract backlog. On the other, the market is marking the stock down 5.3% to around $23.67 on heavy volume, a sign that many traders still view any strength as an opportunity to exit rather than a reason to build a position. That push and pull is typical of early stage tech stories, where each new contract or partnership can be overshadowed in the short term by profit taking or macro jitters.
For investors, the key question is whether the kind of institutional demand represented by C-DAC will eventually anchor the valuation and dampen the wild swings that have defined Rigetti’s trading history. If the company can execute on the 108 qubit deployment in India and convert that success into additional government and enterprise wins, the argument that RGTI deserves to trade closer to the higher end of its 52 week range will look more compelling. Until then, I think the stock will continue to oscillate between bursts of enthusiasm around news like the Wedbush target hike and sharp pullbacks whenever expectations get ahead of what the income statement and balance sheet can support.
How to read the tape in a quantum stock
Anyone trying to interpret Rigetti’s price action also needs to understand the limitations and context of the data they are using. Platforms that aggregate market information, such as Google Finance, provide a convenient snapshot of quotes, historical ranges and intraday moves, but they also come with disclaimers about delays, potential inaccuracies and the need to cross check figures with primary exchange feeds or broker platforms. In practice, that means the 23.67 close, the 1.32 decline and the 5.28% drop cited in recent coverage should be treated as part of a broader mosaic that includes exchange data, company filings and direct announcements from Rigetti itself.
In a stock as volatile as Rigetti, small discrepancies in timing or pricing can change the narrative from a mild pullback to a sharp selloff, which is why I always recommend focusing less on any single tick and more on the pattern across days and weeks. The combination of a 52 week low at 6.86, a recent close in the 20s, and a series of high profile contracts and analyst calls suggests a name that is still in price discovery mode. For long term investors who believe in the potential of quantum computing, the Indian 108 qubit order and the Wedbush target hike are signs that Rigetti is moving in the right direction operationally, even if the stock chart continues to test their patience.
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