The AI-driven rally has quickly spread into quantum computing stocks, but Wall Street is already separating the potential winners from the more speculative names. While Quantum Computing (QUBT) surged after its latest earnings report, Rigetti Computing (RGTI) moved lower in Tuesday’s trading despite posting strong revenue growth.
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QUBX: an alternative to margin or options on QUBTQuantum Computing stock jumped after the company reported Q1 FY2026 revenue of $3.7 million, far higher than just $39,000 a year ago and above analyst expectations of $3.13 million. The company also beat earnings estimates, helped by recent acquisitions including Luminar Semiconductor and NuCrypt.
Meanwhile, Rigetti reported Q1 revenue of $4.4 million, up about 200% year-over-year and ahead of estimates of $4.09 million. However, shares slipped following the report as investors appeared to lock in gains after the stock’s strong rally in recent weeks.
Despite the mixed stock reactions, top Cantor Fitzgerald analyst Troy Jensen continues to favor Rigetti over QUBT.
Why Cantor Fitzgerald Thinks Rigetti Has the Edge
The analyst reiterated an Overweight rating and $30 price target on Rigetti stock. Jensen said Rigetti is still in the “very early innings” of bringing its superconducting quantum technology to market. One key highlight for Rigetti during the quarter was the launch of its 108-qubit Cepheus-1-108Q system. The company also continues to see demand for its on-site quantum systems, including a recent system sale to the University of Saskatchewan.
According to Jensen, Rigetti could capture 20% of the broader quantum hardware, software, and services market by 2035. Based on the analyst’s estimates, that equals a present revenue value of roughly $636 million.
By comparison, Jensen maintained a Neutral rating and $10 price target on QUBT stock. While the analyst noted Quantum Computing’s strong cash position and recent business momentum, he expects the company to capture a smaller share of the quantum market over time.
The analyst estimates QUBT could capture about 5% of the market by 2035, equal to roughly $375 million in future sales. Discounted back to today’s value, Jensen estimates those revenues at about $159 million.
QUBT still ended the quarter with a strong cash balance of about $1.4 billion, giving the company plenty of room to fund growth, expand production, and pursue future deals. However, Cantor Fitzgerald believes Rigetti currently has the stronger long-term position in the fast-growing quantum computing market.
Which Quantum Stock Looks Better Right Now?
Using TipRanks’ Stock Comparison tool, we compared QUBT and RGTI to see which quantum computing stock may offer more upside. Currently, both stocks carry a Moderate Buy consensus rating from analysts. However, RGTI appears to offer slightly higher upside potential, with analysts’ average price target implying about 58% upside compared to nearly 50% for QUBT.
