11 Best Quantum Computing Stocks to Buy Right Now

8. Rigetti Computing, Inc. (NASDAQ:RGTI)

Number of Hedge Fund Holders: 17

Rigetti Computing, Inc. (NASDAQ:RGTI) is engaged in building quantum computers and the superconducting quantum processors.  Analysts are optimistic about the company’s growth potential, demonstrating confidence in the company’s tech prowess. Alliance Global Partners analyst Brian Kinstlinger upped the price objective to $16 from $15, reiterating a “Buy” rating. The analyst has highlighted Rigetti Computing, Inc. (NASDAQ:RGTI)’s partnership with Quanta Computer. The companies have committed to invest over $100 million each over the upcoming 5 years, with both sides emphasizing their complementary strengths in a bid to develop superconducting quantum computing technologies.

Kinstlinger believes that the strategic investment by a giant tech partner like Quanta demonstrates another validation of Rigetti Computing, Inc. (NASDAQ:RGTI)’s dominant position in the quantum computing domain. Also, TD Cowen analyst, Krish Sankar, reaffirmed a “Buy” rating on the company’s stock. This analyst also opines that Quanta partnership is a positive development because of the manufacturing and financial resources related to the deal. Rigetti Computing, Inc. (NASDAQ:RGTI)’s cash, cash equivalents and available-for-sale securities totaled $217.2 million as of December 31, 2024, ensuring sufficient financing through 2027.