Quantum computing companies IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) recently reported quarterly results, giving investors a fresh look at which quantum stock may be best positioned after earnings. While all three companies are still posting losses as they invest heavily in growth, Wall Street continues to see strong long-term potential in the sector. Using TipRanks’ Stock Comparison tool, we compared IONQ, RGTI, and QBTS to see which quantum stock analysts currently favor most.
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Forget margin or options. Here's how the pros trade QBTSRight now, QBTS and IONQ both carry Strong Buy ratings, while RGTI holds a Moderate Buy consensus. Among the three, QBTS also offers the highest upside potential of 64% based on analyst price targets.
Let’s dig deeper.
IonQ Continues to Lead in Revenue Growth
IonQ (IONQ), the quantum computing company focused on trapped-ion technology, reported record Q1 revenue of $64.7 million, up 755% year-over-year. The company also raised its 2026 revenue guidance to between $260 million and $270 million. However, despite the strong numbers, IONQ stock fell after earnings as investors focused on ongoing losses, high spending, and valuation concerns.
Following the report, both J.P. Morgan and Morgan Stanley raised their price targets on IonQ stock but maintained cautious ratings. Analysts praised IonQ’s strong revenue momentum and progress toward its next-generation 256-qubit system, but noted that competition from companies like Amazon (AMZN), Alphabet (GOOGL), Microsoft (MSFT), and IBM (IBM) remains intense.
Even so, IonQ continues to stand out as one of the most commercially advanced quantum companies, especially after its planned acquisition of SkyWater Technology (SKYT). On the Street, IONQ has a Strong Buy consensus, based on 12 analysts’ ratings. The average IONQ stock price target is $64.13, implying a 14.78% upside from the current price.
Rigetti Focuses on Technical Progress
Rigetti Computing (RGTI), the superconducting quantum computing company, reported Q1 revenue of $4.4 million, up about 200% year-over-year and ahead of Wall Street estimates. Still, RGTI stock moved lower after the report as investors weighed continued operating losses and heavy spending on system development.
One of the biggest highlights from the quarter was the launch of Rigetti’s 108-qubit Cepheus-1 system. The company also continued expanding its hardware business with a new quantum system sale to the University of Saskatchewan.
Wall Street remains positive on Rigetti’s long-term technology roadmap, especially as the company targets larger quantum systems over the next two years. Following the earnings release, Craig-Hallum analyst Richard Shannon reiterated a Buy rating and $30 price target on Rigetti stock. Shannon believes Rigetti is steadily building a customer base that could benefit as quantum technology advances over the coming years.
However, analysts continue to view the stock as a higher-risk quantum play compared to IonQ. Currently, RGTI carries a Moderate Buy consensus rating based on 11 analysts’ reviews. The average RGTI stock price target is $30.00, implying a 57.32% upside from the current price.
D-Wave Sees Massive Booking Growth
D-Wave Quantum (QBTS), the quantum computing company focused on annealing systems, delivered one of the most closely watched reports in the sector. While revenue fell 81% year-over-year to $2.9 million, D-Wave reported record bookings of $33.4 million, up nearly 2,000% from last year. The company also secured a $20 million system sale to Florida Atlantic University and a $10 million agreement with a Fortune 100 company.
Importantly, D-Wave’s backlog surged more than 560%, showing that customer demand continues to build even though reported revenue remains uneven.
Meanwhile, analysts remain bullish on QBTS because of its growing commercial traction and rising enterprise demand. The stock also offers one of the highest upside estimates among major quantum names. On the Street, QBTS has a Strong Buy consensus rating based on 13 analysts’ reviews. The average QBTS stock price target is $36.73, implying a 64.33% upside from the current price.
Which Quantum Stock Looks Best Right Now?
D-Wave Quantum currently appears to have the strongest Wall Street outlook among the three quantum stocks. Analysts continue to favor QBTS for its growing commercial demand and upside potential.
Meanwhile, IonQ remains the more established revenue leader in the space, while Rigetti continues to attract investors focused on long-term technology development.