Quantum Computing (QUBT) stock won a new Street-high price target of $40 (up from $22) from Ascendiant analyst Edward Woo. The revised price target reflects an impressive 62.5% upside potential from current levels. Woo cited QCi’s strong revenue growth as a key factor that could drive share price appreciation through 2025 and 2026. Following the upgrade, QUBT stock rocketed over 23% on October 3.
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However, shares are trending lower in pre-market trading after the company announced the oversubscription of $750 million worth of common stock with institutional investors. QCi plans to use the proceeds to fund product commercialization, acquisitions, large-scale production, additional sales and engineering hires, working capital, and general corporate purposes.
QCi Is Positioned for Market Share Growth
Woo noted that QCi’s early involvement in the rapidly expanding quantum computing industry gives it a strong position to capture meaningful market share and support broader industry growth. He also urged investors to focus on the company’s recently launched products, adding that successful commercialization could significantly boost revenue in 2025 and beyond.
QUBT has delivered remarkable returns, soaring more than 3,324% over the past year. Peers D-Wave (QBTS) and Rigetti Computing (RGTI) have also seen substantial gains of 3,306% and 5,009%, respectively, during the same period. Despite these extraordinary gains, Woo believes there is still plenty of room for further growth as investor interest in quantum computing continues to grow.
While Woo’s outlook appears highly optimistic, the sector’s recent stock performance suggests that enthusiasm for quantum computing remains exceptionally strong.
Is QUBT Stock a Good Buy?
On TipRanks, QUBT stock has a Moderate Buy consensus rating based on two Buy ratings. The average Quantum Computing price target of $32 implies nearly 30% upside potential from current levels.
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