Rigetti Computing Shares Struggle to Gain Traction Despite Analyst Backing

A recent endorsement from Wall Street has failed to ignite a rally for Rigetti Computing’s stock, as investor skepticism overshadows analyst confidence. The quantum computing specialist’s shares remain volatile, with a key project delay currently weighing more heavily on market sentiment than the praise from research firm Rosenblatt Securities.

In a notable disconnect between analyst opinion and market action, Rigetti’s equity fell sharply on Thursday. The stock closed the session at $24.70, marking a single-day decline of nearly four percent. This drop is particularly significant as it occurred just one day after Rosenblatt Securities initiated coverage of the company with a "Buy" rating.

The firm’s analysts expressed fundamental confidence in Rigetti’s long-term strategy, specifically highlighting its modular approach to scaling qubits and its in-house manufacturing capabilities. However, this optimistic outlook was insufficient to shift the prevailing mood on the trading floor. The elevated trading volume, exceeding 33 million shares, signals that a substantial number of market participants are prioritizing near-term risks over the company’s future potential.

Project Delay Fuels Investor Caution

The primary source of the market’s nervousness is an announcement made last week. Rigetti has postponed the launch of its "Cepheus-1-108Q" system. The timeline has been pushed back from the end of 2025 to the conclusion of the first quarter of 2026.

Should investors sell immediately? Or is it worth buying Rigetti?

Company management cited the need for additional time to complete technical optimizations. These efforts are focused on resolving challenges with tunable couplers and achieving the target processor fidelity of 99.5 percent. This delay has created a clear divergence in expert opinion.

While Rosenblatt has extended a vote of confidence, viewing the setback as manageable, other analysts have urged caution. In December, the research department at Jefferies issued a "Hold" rating on Rigetti, explicitly pointing to execution risks and the company’s significant reliance on government contracts.

A Pivotal Deadline Ahead

All attention is now fixed on the new deadline at the end of Q1 2026. Adhering to this revised schedule is now critical for Rigetti. Success is required to validate its technical roadmap and to begin rebuilding investor trust, which has been dented by the postponement.

Until then, the stock is likely to remain highly sensitive, caught between the promise of a technological breakthrough and the persistent concern over further operational delays. The coming quarters will test whether analyst confidence can eventually align with market performance.