Shares of two quantum computing stocks, Rigetti Computing (RGTI) and IonQ (IONQ), are trending higher in the pre-market trading session. In a new report today, Needham Top analyst N. Quinn Bolton assigned a “Buy” rating to both stocks and increased price targets for each, pointing to rising momentum in the quantum computing space.
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For Rigetti stock, the five-star analyst raised the price target to $18 from $15, implying 27% upside potential. For IonQ stock, he lifted the price target to $60 from $50, which implies 57% upside potential.
Why Is Needham Bullish on These Stocks?
In his latest note, Bolton said that new policy moves in Washington may boost prospects for companies like Rigetti and IonQ. He pointed to the Department of Energy’s Quantum Leadership Act of 2025, a bill now being looked at in Congress. This bill would set aside more than $2.5 billion over five years to grow the Department of Energy’s (DOE’s) work in quantum research.
Bolton believes that if the bill becomes law, it would lead to a sharp rise in U.S. government spending on quantum tech, giving a clear boost to firms like Rigetti and IonQ.
He also pointed to DARPA’s Quantum Benchmarking Initiative as another key sign. He sees this as a strong sign that federal agencies are becoming more serious about pushing quantum technologies forward.
With both public and private interest building in quantum computing, he thinks Rigetti and IonQ are in a good spot to grow as support and funding keep building.
Which Is the Best Quantum Computing Stock, According to Wall Street?
We used the TipRanks Stock Comparison Tool to determine which stock is more favored by analysts. Currently, Wall Street has a “Strong Buy” consensus rating on both stocks, with IONQ offering higher upside potential of 25% over the next 12 months. Meanwhile, RGTI’s average share price target of $16.20 implies upside of 14.7% from current levels.
