Benchmark Co. analyst Gary Mobley reinstated coverage of quantum computing stocks, including IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS), assigning Buy ratings and notable price targets. Mobley remains optimistic on the broader quantum computing sector, saying the technology continues to make meaningful progress toward solving real-world problems.
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Explore QBTX for 2X leverage on QBTSHowever, he does not believe the industry will be a winner-takes-all market. He recommends investors diversify across multiple quantum computing companies rather than betting on a single winner, especially while the technology is still in its early stages.
Mobley is a five-star analyst on TipRanks, ranking #397 out of the 12,397 analysts tracked. He has a 58% success rate and an average return per rating of 19.80%.
IONQ Has a First-Mover Advantage
Mobley assigned a $60 price target to IONQ, which implies 82.7% upside potential from current levels. He believes IonQ is one of the strongest companies in the sector because it is building a full-stack platform that includes computing, networking, sensing, and security. He sees this integrated approach as a key competitive advantage that could help IonQ become a leading player in the industry.
As a near-term catalyst, Mobley expects IonQ to raise its 2026 revenue guidance when it reports second-quarter results in early August. He believes the company’s strong backlog gives it high visibility into future revenue and supports expectations for continued rapid growth.
RGTI Is Focused on Building Quantum Chips
Mobley assigned a $25 price target on RGTI, implying 76.7% upside potential. He views Rigetti as one of the few pure-play quantum computing companies focused on building quantum chips. Mobley believes its partnership-driven strategy allows the company to reduce costs and focus on chip development. Rigetti partners with companies such as Amazon (AMZN) Web Services for cloud infrastructure and Nvidia (NVDA) for CUDA Quantum software, allowing it to focus on designing and developing quantum chips.
Mobley expects Rigetti’s revenue to grow as governments and research institutions increase spending on quantum computing. He also sees progress on its product roadmap, including the launch of its 108-qubit Cepheus-1 system, as a key catalyst for the stock.
QBTS Has a Compelling Risk-Reward Profile
For QBTS, Mobley assigned a $30 price target, which implies 85.1% upside potential. He believes D-Wave stands out because it offers both annealing and gate-model quantum computing systems, giving it exposure to a wider range of quantum computing opportunities. After the recent selloff, he sees QBTS stock as an attractive risk-reward opportunity ahead of its second-quarter earnings.
Mobley expects D-Wave’s strong backlog and growing sales pipeline to support future revenue growth. He also sees increased government funding and rising demand for quantum computing as key catalysts for the stock.
Which Quantum Computing Stock Offers the Best Returns?
Based on Mobley’s price targets, D-Wave offers the highest upside potential at 85.1%, followed by IonQ at 82.7% and Rigetti at 76.7%. We used the TipRanks Stock Comparison Tool to determine Wall Street’s views on the companies.
While Mobley’s price targets favor D-Wave, Wall Street also assigns Strong Buy ratings to both QBTS and IONQ, while RGTI carries a Moderate Buy consensus. Among the three, QBTS offers the highest upside potential based on the average analyst price target.
