Quantum computing stocks are arguably among the most volatile stocks on the market. Some of them fell to penny stocks in 2022 and 2023. But perhaps due to excitement about artificial intelligence (AI), or investors seemingly realizing that quantum technology might actually be achievable, these stocks soared in late 2024 and 2025, generating returns of 10x or more in some cases.
These stocks have been tumbling lately, although Wall Street still sees huge potential. According to some Wall Street analysts, the following two quantum computing stocks have upside potential of as much as 167% and 199% respectively.
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Quantum computing is considered the next major iteration of computing, similar to how artificial intelligence is the next major innovation in software development. While computers operate on bits, the smallest unit of digital information, quantum computers operate on qubits, which can process information simultaneously, as opposed to bits, which process information sequentially.
This allows quantum computers to process information much faster, and researchers believe that one day quantum computers could have computing power that far exceeds that of even today’s most advanced supercomputers.
Righetti Calculation(NASDAQ: RGTI) It has designed several quantum systems and is currently expected to release its 108-qubit system by the end of the first quarter. According to management, the system’s two qubit gates achieved 99% fidelity, a measure of accuracy. The ultimate goal of quantum computing companies is to one day commercialize these systems and make them as ubiquitous as traditional computers.
Rigetti’s shares are down about 32% this year, but Wall Street analysts still have high hopes for the stock. Of the 10 Wall Street analysts who have issued research reports on the company in the past three months, eight have issued buy ratings and two have hold ratings, according to TipRanks. The average one-year price target implies nearly 117% upside potential. However, the top price target implies 162% upside potential.
The rating comes from Mizuho Securities analyst Vijay Rakesh in early March, who lowered his price target to $43 from $50 but reiterated a buy rating. Rakesh wrote in a research note that Rigetti missed fiscal fourth-quarter revenue expectations but its product roadmap remains on track. Rakesh still expects Rigetti to capture 10% of the quantum computing market, and the company’s stock is trading at nine times what he expects to be the company’s revenue in 30 months.
Investors should understand that investing in Rigetti is purely a bet that quantum computers will realize their potential and be commercialized. Rigetti currently has very little revenue and is losing hundreds of millions of dollars. I will keep my positions very small and speculative for now.
Ion Q(NYSE: IONQ) is another quantum computing company that set a world record for error rates last October. Using the prototype, the company achieved a two-qubit gate fidelity of over 99.99%, surpassing the world record of 99.97% set by Oxford Ionics in 2024. IonQ acquired Oxford last year.
IonQ plans to use this technology as the basis for its 256-qubit system, which it hopes to demonstrate sometime this year. The stock is down about 28% this year, but Wall Street analysts remain bullish on the stock.
Of the 10 Wall Street analysts who have issued research reports on the company in the past three months, eight have issued buy ratings and three have assigned hold ratings, according to TipRanks. The average one-year price target implies approximately 91% upside potential. However, the top price target implies 197% upside potential.
Rosenblatt Securities analyst John McPeake maintained a buy rating and $100 price target on the stock, with his latest report coming in late February. In his research note, McPeake cited industry leadership, high fidelity, strong revenue through 2025 and a strong cash position to continue to fund the company.
Indeed, IonQ’s revenue is much higher than Rigetti’s, reaching $130 million by 2025, a year-over-year increase of more than 200%. The company is still generating significant losses but has nearly $2.4 billion in cash and short-term equivalents.
Still, the stock trades with a market cap of over $12.3 billion, a similar bet to Rigetti’s, which is why I’d apply the same advice I gave to Rigetti stock to IonQ.
Before buying Rigetti Computer stock, consider the following factors:
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Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has an interest in and recommends IonQ. The Motley Fool has a disclosure policy.
These two quantum computing stocks have upside potential of 162% and 197%, according to some Wall Street analysts Originally published by The Motley Fool
