Shares of IonQ (IONQ), D-Wave Quantum (QBTS), and Rigetti Computing (RGTI) fell in early hours trading on Tuesday trading after top Mizuho Securities analyst Vijay Rakesh lowered his price targets across the group. The analyst cut his price targets to $61 for IonQ (from $80), $31 for D-Wave (from $40), and $33 for Rigetti (from $43), while maintaining an Outperform rating on all three stocks.
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New trading tool for QBTS bullsThe price cuts point to near-term caution, while the long-term quantum story remains intact.
Rakesh is a five-star analyst on TipRanks, ranking #32 out of 12,128 analysts tracked. He has a 60% success rate and an impressive average return per rating of 44.70%.
Mizuho Remains Bullish on Quantum Stocks
Despite the reduction in price targets, Rakesh remains positive on the sector’s long-term growth. He pointed to several factors that continue to support the space. One key trend is the growing use of NVQLink. It helps improve error correction and allows systems to combine quantum and classical computing, making them more useful in real-world cases.
At the same time, competition is rising as companies work toward more than 200 logical qubits, with most targets set between 2027 and 2029.
The analyst also highlighted strong global investment as a major tailwind. The UK is expected to invest about $2.7 billion in quantum computing over the next four years, while Canada is adding roughly $1 billion for defense-related programs.
In addition, companies like Rigetti are stepping up their own spending, including plans to invest about $100 million in the UK. These moves are helping build a stronger ecosystem for future growth.
Overall, Rakesh believes that the sector may face short-term pressure, but strong technology progress and rising investment continue to support long-term upside.
Which Is the Best Quantum Computing Stock?
Using the TipRanks Stock Comparison tool, we found that analysts have a Strong Buy rating on Rigetti and D-Wave, while IonQ holds a Moderate Buy rating. Among the three, QBTS offers the highest upside potential, followed by RGTI and IONQ.
