Quantum Computing (QUBT) stock jumped 9% yesterday after the company said it will introduce its new Neurawave system at the SuperCompute25 event. The news comes as analysts continue to review the company’s recent progress and outlook. In a new update, top Lake Street analyst Max Michaelis lowered his price target on Quantum Computing to $16 from $24, while keeping a Buy rating.
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He said the price cut wasn’t tied to execution or fundamentals, but to the broader pullback in high-risk tech stocks. According to him, quantum stocks are now trading at lower valuation levels as investors shift toward safer names, and QUBT’s new price target reflects those market conditions rather than any change in the company’s long-term potential.
Michaelis is a five-star analyst on TipRanks, ranking #411 out of 10,123 analysts tracked. He has a 58% success rate and an average return per rating of 80.30%.
Q3 Numbers Point to Rising Momentum
Michaelis issued the update following the company’s Q3 earnings report. Revenue came in at $384,000, up sharply from a year ago and ahead of estimates. The company also posted earnings of $0.01 per share, beating analysts’ expectations of a $0.06 loss. Meanwhile, QUBT ended the quarter with a strong cash position of $352 million, giving it room to expand and invest.
While Quantum Computing is still early in its business cycle, he said the earnings report showed ongoing revenue progress and some signs of rising customer interest. He believes the company is beginning to build a clearer path for future sales, even though the current revenue base remains small.
Growth Story Still Intact
Despite lowering the price target, Michaelis remains positive about Quantum Computing’s long-term outlook. He sees the company as an early player in a new field with room to expand and expects demand for quantum tech to grow as more companies explore uses in cybersecurity, defense, and research.
He noted that the company is starting to see progress in revenue and early customer interest. As the business signs more deals and proves demand, he expects the stock to gain strength.
According to Michaelis, the next phase for QUBT is all about execution. He pointed to upcoming customer wins, product rollouts, and broader partnerships as potential catalysts. In his view, there is still upside for investors who are willing to wait as the industry develops.
Is QUBT a Strong Buy?
Turning to Wall Street, QUBT stock has a Moderate Buy consensus rating based on two Buys assigned in the past three months. At $28.00, the average Quantum Computing stock price target implies a 143.48% upside potential.
