Needham Boosts Price Targets on Rigetti Computing and IonQ Amid Rising Quantum Computing Momentum

Rigetti Computing (RGTI) and IonQ (IONQ) shares are trending higher in pre-market trading. Needham analyst N. Quinn Bolton assigned a "Buy" rating and increased price targets for both stocks, citing rising momentum in the quantum computing space and potential government funding. The analyst sees a 27% upside potential for RGTI and a 57% upside potential for IONQ.

In pre-market trading today, shares of Rigetti Computing (RGTI) and IonQ (IONQ) are trending higher, driven by positive analyst ratings and increased price targets. Needham analyst N. Quinn Bolton assigned a "Buy" rating to both stocks, citing rising momentum in the quantum computing sector and potential government funding [1].

Bolton increased the price target for Rigetti Computing to $18, representing a 27% upside potential, while the target for IonQ was raised to $13.50, offering a 57% upside potential. The analyst highlighted the growing industry momentum and key developments such as DARPA's Quantum Benchmarking Initiative and the progress in Congress of the Department of Energy Quantum Leadership Act on 2025, which could significantly boost U.S. government funding for quantum computing research [1].

Rigetti Computing, a quantum computing company, has been making strides in the sector. In mid-July, the company announced that its 36-qubit system achieved a two-times lower gate error rate, the best performance seen on one of its quantum systems yet. The company is also preparing to release a 100-qubit system, which could further enhance its computing capabilities [2].

IonQ, another leader in the quantum computing and networking industries, recently announced a significant milestone in the development of high-speed, mixed-species quantum logic gates for trapped-ion quantum computing and networking. The company's research demonstrates a practical method for executing high-speed, mixed-species entangling operations, which is expected to enable faster and more efficient quantum computing and networking [3].

While the quantum computing sector is still in its early stages, the recent advancements and analyst ratings indicate strong potential for growth. However, investors should be cautious and conduct thorough research before making investment decisions.

References:
[1] https://www.tipranks.com/news/the-fly/rigetti-computing-price-target-raised-to-18-from-15-at-needham-thefly
[2] https://www.nasdaq.com/articles/stock-split-watch-rigetti-computing-next
[3] https://www.businesswire.com/news/home/20250305661569/en/IonQ-Reaches-Important-Milestone-in-Achieving-Faster-Quantum-Gates-for-Quantum-Computing-and-Networking