5 Best Quantum Computing Stocks to Invest In According to Analysts

2. Rigetti Computing Inc. (NASDAQ:RGTI)

On March 25, Rigetti Computing Inc. (NASDAQ:RGTI) announced that it plans to invest up to  $100M in the UK. The move is aimed at speeding up quantum computing development and marks its first major investment outside the United States. As part of the plan, the company expects to deploy a quantum computer with more than 1,000 qubits within the next 3-4 years.

Building on its existing presence in the UK, Rigetti Computing Inc. (NASDAQ:RGTI) highlighted that the investment includes a 36-qubit system deployed at the National Quantum Computing Centre. The company is also working with partners there on quantum error corrections.

Benchmark analyst David Williams maintained a Buy rating on Rigetti Computing Inc. (NASDAQ:RGTI) while lowering the firm’s price target on March 20. The analyst cut the firm’s price target on the stock from $35 to $25. After a meeting with the company’s CEO, Subodh Kulkarni, and CFO, Jeff Bertelsen, the firm said that it feels more confident about its strategy and technology. However, the price target was lowered due to weakness across the quantum sector.

Rigetti Computing Inc. (NASDAQ:RGTI) designs and manufactures quantum processors in-house at its foundry in Fermont, California. The company is vertically integrated and offers a full-stack solution, including cloud access to its quantum computers. It is based in Berkeley, California.