Quantum Stock Tracker: IonQ, Rigetti, and D-Wave Gain from Anticipated Rate Cuts
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2025
0mins
Should l Buy QBTS?
Source: Benzinga
Market Reaction: Quantum stocks experienced a boost following dovish remarks from Fed Chair Jerome Powell, which raised hopes for lower interest rates benefiting debt-laden quantum companies.
Quantum Computing, Inc. (QUBT): The company reported disappointing Q2 results with losses of 26 cents per share and revenue below expectations, but emphasized its focus on delivering practical, purpose-built quantum machines.
IonQ Developments: IonQ's stock rose after announcing it controls over 1,000 patents, highlighting its technical leadership and ambition to develop a quantum system with 2 million qubits by 2030.
D-Wave Quantum Conference: D-Wave announced its first Qubits Japan 2025 user conference in Tokyo, reflecting the growing importance of Asia in quantum computing, while also reporting an 83% increase in bookings in the APAC region over the past year.
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Analyst Views on QBTS
Wall Street analysts forecast QBTS stock price to rise
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 20.140
Low
35.00
Averages
40.67
High
48.00
Current: 20.140
Low
35.00
Averages
40.67
High
48.00
About QBTS
D-Wave Quantum Inc. is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services. The Company builds and delivers systems, cloud services, application development tools, and professional services to support the end-to-end quantum computing journey for enterprises and developers. The Company's products include Cloud Platform, Systems, Professional Services, and others. Under its Cloud Platform, the Leap quantum cloud service delivers immediate, real-time access to its quantum computers and hybrid solvers services. Under its Systems, the Advantage quantum system is a quantum computer designed for business. It also offers quantum applications to a range of customers, including resource scheduling, factory scheduling, industrial construction design, drug discovery, and others. It offers solutions across workforce scheduling, production scheduling, vehicle routing, resource optimization, and cargo loading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
D-Wave's Earnings May Spark a New Rally Despite Two Misses
Earnings Report Overview: D-Wave Quantum Inc. reported mixed Q4 and full-year 2025 earnings, failing to meet analyst expectations despite year-over-year improvements in performance metrics.
Positive Future Indicators: Investors remain optimistic about D-Wave's future due to significant improvements in quarterly bookings, cash position, and revenue growth, with a notable increase in January 2026 bookings.
Market Reaction: Following the earnings release, D-Wave's shares initially spiked above $21.30, although they settled below $20, reflecting a year-to-date decline but still showing a strong performance over the past year.
Analyst Sentiment: Analysts maintain a moderate buy rating for D-Wave, with a consensus price target significantly above its current price, indicating confidence in the company's potential despite recent challenges.
See More
D-Wave Quantum Reports Significant Growth in Fiscal 2025 Earnings
- Significant Revenue Growth: D-Wave reported $24.6 million in revenue for fiscal 2025, a remarkable 179% increase from $8.8 million in fiscal 2024, indicating strong demand and commercial progress in the quantum computing market.
- Technological Advancements and Acquisition: The company made its first sale of an Advantage quantum computer to the Julich Supercomputing Centre and acquired Quantum Circuits, solidifying its technological leadership and becoming the only dual-platform quantum computing company.
- Optimistic Future Outlook: CFO Markovich noted that year-to-date bookings for fiscal 2026 have already surpassed any previous annual total, with expectations for higher revenue growth in the second half of the year, reflecting robust market demand for quantum computing solutions.
- Increased Operating Expenses: Projected quarterly operating expenses are expected to rise by approximately 15% sequentially due to investments in R&D and the government business unit, yet management remains confident about future growth despite challenges related to long and complex sales cycles.
See More
Hot Inflation Data Causes Rigetti Stock Plunge
- Stock Decline: Quantum computing company Rigetti Computing (NASDAQ: RGTI) saw its shares tumble 6.6% on Friday, primarily due to unexpected high inflation data and a price target cut on rival D-Wave Quantum, indicating market uncertainty regarding its future profitability.
- Inflation Data Impact: The January Producer Price Index (PPI) revealed core wholesale prices surged 0.8%, nearly tripling the economists' forecast of 0.3%, suggesting the Federal Reserve may delay rate cuts, further negatively impacting speculative stocks like Rigetti's.
- Increased Competitive Pressure: Mizuho analysts slashed D-Wave's price target from $46 to $40, intensifying pressure across the quantum computing sector as investors tend to link the fates of these companies, raising concerns about Rigetti's market position.
- Investor Confidence Wanes: Rigetti's current valuation reflects enormous expectations for future success, yet analysts caution that such success is far from guaranteed, advising investors to be cautious until the valuation aligns more closely with reality.
See More
Rigetti Computing Shares Drop Due to Inflation Data
- Stock Decline: Shares of quantum computing firm Rigetti Computing fell 6.6% on Friday, closing at $17.52, with a market cap now at $6.2 billion, indicating increasing investor uncertainty regarding future profitability.
- Inflation Data Impact: The producer price index (PPI) released on Friday showed core wholesale prices surged 0.8% in January, nearly tripling economists' forecasts, suggesting the Federal Reserve may delay interest rate cuts, negatively impacting speculative stocks like Rigetti.
- Peer Price Cut: Analysts at Mizuho slashed the price target for D-Wave Quantum from $46 to $40, and as a close competitor to Rigetti, this news further heightened investor concerns about the quantum computing sector.
- Investor Confidence Wanes: While quantum computing holds the potential to transform industries, Rigetti's valuation reflects enormous expectations for future success that are far from guaranteed, leading analysts to advise against investment until valuations align more closely with reality.
See More
Rigetti Computing Shares Decline Ahead of Earnings Report
- Earnings Expectations: Rigetti Computing is set to report earnings on March 4, with analysts forecasting a loss of 4 cents per share on revenue of $2.46 million, an improvement from the previous loss of 8 cents per share and revenue of $2.27 million, indicating potential financial recovery.
- Sector Impact: The broader tech sector is experiencing a sell-off, which has pressured Rigetti's stock despite heightened expectations following IonQ's strong revenue performance, reflecting investor uncertainty regarding Rigetti's upcoming results.
- Stock Volatility: Rigetti's shares have seen significant volatility over the past year, rising from approximately $7.50 to a peak of $56.34 before retreating to $16.82, indicating a shift in market sentiment and investor confidence.
- Technical Analysis: Short-term moving averages have converged with the stock price while the 200-day average continues to trend upward, suggesting a cooling momentum despite a positive long-term outlook, which may influence investor buying decisions.
See More
D-Wave Quantum Shares Decline Amid Analyst Downgrades
- Analyst Downgrades: Evercore ISI cut its price target for D-Wave Quantum from $44 to $42, while Roth Capital lowered its target from $40 to $30, reflecting concerns about the company's future profitability.
- Earnings Miss: D-Wave reported an adjusted fourth-quarter loss of $0.09 per share, missing analyst expectations of a $0.07 loss, with revenue of $2.75 million falling short of the $3.75 million forecast, indicating challenges in revenue growth.
- Surge in Bookings: Despite the losses, D-Wave saw bookings soar to $13.4 million, a 471% increase from the previous quarter, suggesting accelerated customer activity that could lay the groundwork for future revenue growth.
- Significant Stock Volatility: D-Wave Quantum's stock has experienced significant fluctuations over the past year, rising from around $5 to a peak near $44.78 in late 2025, but has since retreated to the high teens/low $20s by February 2026, indicating a shift in market sentiment.
See More
D-Wave's Earnings May Spark a New Rally Despite Two Misses
Earnings Report Overview: D-Wave Quantum Inc. reported mixed Q4 and full-year 2025 earnings, failing to meet analyst expectations despite year-over-year improvements in performance metrics.
Positive Future Indicators: Investors remain optimistic about D-Wave's future due to significant improvements in quarterly bookings, cash position, and revenue growth, with a notable increase in January 2026 bookings.
Market Reaction: Following the earnings release, D-Wave's shares initially spiked above $21.30, although they settled below $20, reflecting a year-to-date decline but still showing a strong performance over the past year.
Analyst Sentiment: Analysts maintain a moderate buy rating for D-Wave, with a consensus price target significantly above its current price, indicating confidence in the company's potential despite recent challenges.
See More
D-Wave Quantum Reports Significant Growth in Fiscal 2025 Earnings
- Significant Revenue Growth: D-Wave reported $24.6 million in revenue for fiscal 2025, a remarkable 179% increase from $8.8 million in fiscal 2024, indicating strong demand and commercial progress in the quantum computing market.
- Technological Advancements and Acquisition: The company made its first sale of an Advantage quantum computer to the Julich Supercomputing Centre and acquired Quantum Circuits, solidifying its technological leadership and becoming the only dual-platform quantum computing company.
- Optimistic Future Outlook: CFO Markovich noted that year-to-date bookings for fiscal 2026 have already surpassed any previous annual total, with expectations for higher revenue growth in the second half of the year, reflecting robust market demand for quantum computing solutions.
- Increased Operating Expenses: Projected quarterly operating expenses are expected to rise by approximately 15% sequentially due to investments in R&D and the government business unit, yet management remains confident about future growth despite challenges related to long and complex sales cycles.
See More
Hot Inflation Data Causes Rigetti Stock Plunge
- Stock Decline: Quantum computing company Rigetti Computing (NASDAQ: RGTI) saw its shares tumble 6.6% on Friday, primarily due to unexpected high inflation data and a price target cut on rival D-Wave Quantum, indicating market uncertainty regarding its future profitability.
- Inflation Data Impact: The January Producer Price Index (PPI) revealed core wholesale prices surged 0.8%, nearly tripling the economists' forecast of 0.3%, suggesting the Federal Reserve may delay rate cuts, further negatively impacting speculative stocks like Rigetti's.
- Increased Competitive Pressure: Mizuho analysts slashed D-Wave's price target from $46 to $40, intensifying pressure across the quantum computing sector as investors tend to link the fates of these companies, raising concerns about Rigetti's market position.
- Investor Confidence Wanes: Rigetti's current valuation reflects enormous expectations for future success, yet analysts caution that such success is far from guaranteed, advising investors to be cautious until the valuation aligns more closely with reality.
See More
Rigetti Computing Shares Drop Due to Inflation Data
- Stock Decline: Shares of quantum computing firm Rigetti Computing fell 6.6% on Friday, closing at $17.52, with a market cap now at $6.2 billion, indicating increasing investor uncertainty regarding future profitability.
- Inflation Data Impact: The producer price index (PPI) released on Friday showed core wholesale prices surged 0.8% in January, nearly tripling economists' forecasts, suggesting the Federal Reserve may delay interest rate cuts, negatively impacting speculative stocks like Rigetti.
- Peer Price Cut: Analysts at Mizuho slashed the price target for D-Wave Quantum from $46 to $40, and as a close competitor to Rigetti, this news further heightened investor concerns about the quantum computing sector.
- Investor Confidence Wanes: While quantum computing holds the potential to transform industries, Rigetti's valuation reflects enormous expectations for future success that are far from guaranteed, leading analysts to advise against investment until valuations align more closely with reality.
See More
Rigetti Computing Shares Decline Ahead of Earnings Report
- Earnings Expectations: Rigetti Computing is set to report earnings on March 4, with analysts forecasting a loss of 4 cents per share on revenue of $2.46 million, an improvement from the previous loss of 8 cents per share and revenue of $2.27 million, indicating potential financial recovery.
- Sector Impact: The broader tech sector is experiencing a sell-off, which has pressured Rigetti's stock despite heightened expectations following IonQ's strong revenue performance, reflecting investor uncertainty regarding Rigetti's upcoming results.
- Stock Volatility: Rigetti's shares have seen significant volatility over the past year, rising from approximately $7.50 to a peak of $56.34 before retreating to $16.82, indicating a shift in market sentiment and investor confidence.
- Technical Analysis: Short-term moving averages have converged with the stock price while the 200-day average continues to trend upward, suggesting a cooling momentum despite a positive long-term outlook, which may influence investor buying decisions.
See More
D-Wave Quantum Shares Decline Amid Analyst Downgrades
- Analyst Downgrades: Evercore ISI cut its price target for D-Wave Quantum from $44 to $42, while Roth Capital lowered its target from $40 to $30, reflecting concerns about the company's future profitability.
- Earnings Miss: D-Wave reported an adjusted fourth-quarter loss of $0.09 per share, missing analyst expectations of a $0.07 loss, with revenue of $2.75 million falling short of the $3.75 million forecast, indicating challenges in revenue growth.
- Surge in Bookings: Despite the losses, D-Wave saw bookings soar to $13.4 million, a 471% increase from the previous quarter, suggesting accelerated customer activity that could lay the groundwork for future revenue growth.
- Significant Stock Volatility: D-Wave Quantum's stock has experienced significant fluctuations over the past year, rising from around $5 to a peak near $44.78 in late 2025, but has since retreated to the high teens/low $20s by February 2026, indicating a shift in market sentiment.
See More
