Rigetti Computing (RGTI) Could Be 26% Undervalued On EPS Concerns Despite Revenue Growth
Rigetti Computing (RGTI) drew fresh attention after the stock fell 6.45% in the latest session as traders reacted to forecasts calling for sharply lower EPS despite strong revenue expectations.
Recent trading has been rougher for Rigetti Computing than just this latest session, with the 7 day share price return down 15.9% and the 30 day move down 20.2%, as enthusiasm that once drove a very large 3 year total shareholder return now meets concerns about earnings quality.
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Rigetti Computing’s slide can be interpreted either as a verdict on its losses or as a reset following an aggressive multi year run. The valuation section now needs to distinguish between underlying business fundamentals and shifting market sentiment.
Most Popular Narrative: 26% Undervalued
Against Rigetti Computing's last close of $11.80, the most followed narrative anchors fair value at $16.00. This frames the recent pullback as a gap between share price and thesis rather than a clean verdict on the business.
Bull case: Rigetti is more credible today than it was before the Q1 2026 update. Revenue improved meaningfully, the balance sheet remains strong, Cepheus-1-108Q is now commercially available, and the company continues to hit relevant hardware milestones. If technical progress and customer traction continue together, the stock can keep working.
See why 40 investors see Rigetti Computing as 26% undervalued.
Result: Fair Value of $16.00 (UNDERVALUED)
Still, the Rigetti Computing story can change quickly if technical milestones slip, or if high valuation metrics coincide with weaker contract wins or softer system demand.
Find out about the key risks to this Rigetti Computing narrative.
Next Steps
Mixed messages around Rigetti Computing can leave the story feeling unsettled, yet you can move quickly by reviewing the full breakdown of 1 key reward and 3 important warning signs
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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