<p><strong>Rigetti Computing Inc.</strong> (NASDAQ:RGTI) shares are up during Tuesday’s session after the company on Monday reported its first-quarter results.</p>



<h2>Rigetti Revenue Tops Estimates In First Quarter</h2>



<p>The stock’s movement comes after Rigetti posted a quarterly loss of 4 cents per share, which met consensus estimates, while revenue of $4.4 million exceeded expectations by 10.86%.</p>



<p>The company is continuing to execute its strategy with the launch of its 108-qubit Cepheus-1-108Q system, which is now available on various quantum computing platforms.</p>



<p>“In the first quarter, we continued to execute on our strategy by bringing our 108-qubit Cepheus-1-108Q system into general availability on Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid,” said <strong>Subodh Kulkarni</strong>, Rigetti CEO. “We believe Cepheus-1-108Q is one of the most powerful generally available gate-based quantum computers in the world, and as the largest modular system on the market today, it is an important validation of our chiplet-based architecture in a production setting.</p>



<h2>Rigetti Plans $100 Million U.K. Quantum Investment</h2>



<p>The quantum computing company announced its intention to invest up to $100 million in the U.K. The planned investment will go toward deploying a UK-based quantum computing system with over 1,000 qubits in the next three to four years.</p>



<h2>Analysts Maintain Bullish Outlook On Rigetti Stock</h2>



<p><strong>Consensus &amp; Recent Actions:</strong> The stock carries a Buy rating with an average price target of $34.86. Recent analyst moves include:</p>



<ul>
<li><strong>Needham</strong>: Buy (Maintains Target to $31.00) (May 12)</li>



<li><strong>Benchmark</strong>: Buy (Lowers Target to $25.00) (March 20)</li>
</ul>



<h2>How Rigetti (RGTI) Ranks On Momentum And Market Signals</h2>



<p>Below is the Benzinga Edge scorecard for Rigetti Computing, highlighting its strengths and weaknesses compared to the broader market:</p>



<ul>
<li><strong>Momentum</strong>: Strong (Score: 73.28) — Stock is outperforming the broader market.</li>
</ul>



<p><strong>The Verdict:</strong> Rigetti Computing’s Benzinga Edge signal reveals a momentum-driven story, indicating that the stock is currently in a strong position relative to the market. Investors may find opportunities as the company continues to innovate in the quantum computing sector.</p>



<h2>RGTI ETF Exposure: Funds With The Biggest Positions</h2>



<ul>
<li><strong>SPDR S&amp;P Semiconductor ETF</strong> (NYSE:XSD): 4.84% Weight</li>



<li><strong>Defiance Daily Target 2X Long RGTI ETF</strong> (NASDAQ:RGTX): 59.87% Weight</li>



<li><strong>WisdomTree Quantum Computing Fund ETF</strong> (NASDAQ:WQTM): 5.59% Weight</li>
</ul>



<p><strong>RGTI Stock Price Activity:</strong> Rigetti Computing shares were up 0.05% at $20.52 at the time of publication on Tuesday, according to Benzinga Pro data.</p>



<p><em>Photo: Shutterstock</em></p>



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<p>Rigetti Computing stock rises after Q1 revenue beat, quantum expansion plans and analyst optimism around its 108-qubit system.</p>

What's Going On With Rigetti Computing On Tuesday?