Rigetti Computing, Inc., through its subsidiaries, builds and operates quantum computers and the superconducting quantum processors the United States, the United Kingdom, rest of Europe, Asia, and internationally.
FAIL · Does not pass the screen
11.21 USD
Price as of 4 Nov 2026Daily close, not a live quote
Screened 2026-11-04 · the tape above runs as of 12:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price11.21 USD at the 4 Nov 2026 close
Fair valueUnder review: our model's value is 2.45x the price, above our 2.00x limit.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.50, read 2026-11-02
Ethical does not pass the values gate
Price11.21 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-10-11Read Markdown15.62-28.2% to today ✓Accumulation gives way to Markdown first Markdown read since September
2026-10-02Read Accumulation15.62-28.2% to today Markdown gives way to Accumulation after an 8% slide in 3 weeks
2026-09-11Read Markdown16.94-33.8% to today ✓Distribution gives way to Markdown
2026-08-11Read Distribution16.53-32.2% to today ✓Markup gives way to Distribution after a 21% slide in 6 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Rigetti Computing, Inc. holds its Markdown at $11.21. The statistical read favours the sellers, held for 56 days.
As held on the ledger · 2026-11-04
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 56 days
Price at the screen
$11.21
Valuation
N/A trailing · -54.42 forward price to earnings
Values screen
FAIL· score 70.0
Beta
2.15
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
1.08%
Below 33%
Interest-bearing debt is just 1.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
21.95%
Below 33%
Cash held in interest-bearing accounts and securities is 22.0% of assets, under the one-third limit.
Pass
Receivables
7.11%
Below 49%
Money owed to the company is 7.1% of assets, under the 49% limit.
Pass
Revenue purity
100.00%
Below 5%
100.0% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Rigetti Computing, clears the business-activity screen, and its debt is near-nil. Where it falls short is income purity: around 100% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when RGTI's ethical verdict changes
Today RGTI does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Our model's value is 2.45x the price, above our 2.00x limit. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Quantum Computing Promise Collides With Heavy Losses
Picture a lab racing to build machines that could one day crack problems no ordinary computer can touch. Rigetti is one of those labs, posting 199 percent revenue growth while still posting zero profit margins and a negative 57 percent return on equity. The business clears the ethical screen, yet our opportunity rating sits at none because the financials remain too fragile to justify a position.
Forward earnings sit at a deeply negative 70 times, which tells the real story of cash still flowing out the door. Analysts may cluster around a 30 dollar target, yet that view ignores how little visibility exists on when, or if, the technology scales into steady profits. The unknown moat leaves the firm exposed to bigger players who can outspend and out-engineer it.
Risk sits high because revenue growth alone does not fix negative returns or the long road to commercial traction in quantum hardware. Currency swings and funding needs add further pressure in a field where breakthroughs are rare and delays common. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RGTI trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markdown$11.21+1.1%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-04Markdown$11.09-1.5%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Markdown$11.25+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Markdown$11.25-3.6%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
2026-10-25Markdown$11.67-0.1%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
2026-10-18Markdown$11.68-25.2%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 25.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
2026-10-11Markdown · changed$15.62+0.0%Entry 7
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 7.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
2026-09-11Markdown · changed$16.94+2.5%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 21.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 49%. The street (12 analysts) rates it none, with a mean price target of $29.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
