Two Analysts Just Backed Quantum Computing (QUBT) Stock — One Sees 131% Upside

TLDR

• QUBT surged over 13% in morning trading to $11.245, lifted by a broad tech rally tied to the U.S.-Iran peace deal
• Q1 2026 revenue hit $3.7 million, up from just $39,000 a year ago, with EPS beating Wall Street estimates
• Rosenblatt Securities reiterated a Buy rating with a $22 price target; Ascendiant Capital raised its target to $30
• QUBT management is set to present at two investor conferences on June 16 and 17
• Peer quantum stocks RGTI, IONQ, and QBTS also rallied in sympathy, with QBTS up over 15%

Quantum Computing (QUBT) stock climbed more than 13% in morning trading on Monday, reaching $11.245, as a combination of strong earnings momentum, fresh analyst backing, and a broad market rally pushed the stock sharply higher.

Quantum Computing, Inc., QUBT

The NASDAQ rose 2.4%, the S&P 500 gained 1.6%, and the Dow was up 1.3% on the session — a risk-on environment that gave extra lift to high-beta growth names like QUBT.

QUBT’s Q1 2026 earnings report has been a key driver of recent momentum. The company posted revenue of $3.7 million, a massive jump from just $39,000 in the same quarter a year ago. It also reported an EPS loss of only $0.02, beating the Wall Street consensus estimate of a $0.05 loss.

That revenue came largely from the company’s $100 million all-cash acquisition of Luminar Semiconductor, which closed in February.

The stock is still trading well below its 52-week high of $25.84 but above its 52-week low of $6.18. Over the past 12 months, QUBT has fallen 53%, lagging peers like Rigetti Computing (+73%), IonQ (+51%), and D-Wave Quantum (+46%).

Analyst Backing Builds

Two analysts stepped up with positive calls this week. John McPeake of Rosenblatt Securities reiterated his Buy rating on June 10 with a $22 price target, implying over 131% upside from recent levels. He pointed to upcoming product launches and a “next-gen hardware platform” in the pipeline as near-term catalysts.

Edward Woo of Ascendiant Capital Markets also rated QUBT a Buy, raising his price target from $27 to $30. Woo cited Wall Street’s full-year revenue estimate of $20 million to $25 million as reasonable, based on conversations with management.

Woo is particularly focused on QUBT’s Qatalyst software, which lets developers solve complex computational problems without needing deep quantum coding knowledge.

McPeake is watching the company’s Dirac 3 system, its flagship quantum computer first released over the cloud in 2022. An upgraded version is expected soon, with a separate next-generation platform also in development.

QUBT previously won a NASA contract to improve satellite radar image quality using a third-generation Dirac machine.

Commercial Traction Growing

On the commercial side, the company sold a $332,000 quantum system to a large financial institution last year and ran a live cybersecurity demo at a conference in March.

McPeake expects quantum networking and security revenue to grow, but sees product miniaturization as the bigger long-term opportunity. The current systems are rack-mounted and bulky — shrinking them into chips could open up a broader market.

Pre-event positioning also appears to be a factor in Monday’s move. QUBT management is scheduled to present at the Bank of America Transforming World Conference on June 16 and Benchmark’s Quantum Computing Summit on June 17.

Peer stocks moved higher in sympathy: QBTS rose over 15%, RGTI gained 11%, and IONQ was up more than 8%.

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