In a significant development for the burgeoning quantum computing sector, Rosenblatt Securities has commenced analyst coverage on two prominent players, IonQ and D-Wave Quantum, assigning them favorable 'buy' recommendations. This strategic move by the financial firm underscores increasing investor interest and confidence in the long-term prospects of quantum technology. The announcement has positively influenced the stock performance of both companies, indicating a growing recognition of their potential within the high-tech landscape.
Rosenblatt's analysis, led by Kevin Garrigan, established ambitious price targets for these innovative enterprises. IonQ received a target price of $70 per share, while D-Wave Quantum was set at $30. These valuations reflect an optimistic outlook on their future growth and market penetration. Notably, the firm did not extend coverage to other public entities in the quantum space, such as Rigetti Computing and Quantum Computing Inc., choosing to focus its initial recommendations on IonQ and D-Wave.
Following Rosenblatt's initiations, the immediate market reaction saw slight adjustments in the stock values. IonQ's shares experienced a minor dip to $41.98, and D-Wave Quantum saw a nearly 1% decline to $18.24. These fluctuations are often common in dynamic markets as investors digest new information and adjust their positions. The upcoming second-quarter earnings reports are highly anticipated, with IonQ scheduled to release its results on August 6 and D-Wave Quantum on August 7. Later in August, Rigetti and Quantum Computing are also expected to disclose their financial performances.
Financial projections for the upcoming earnings season indicate varying fortunes for these quantum firms. Analysts anticipate IonQ to report a wider loss of 30 cents per share, compared to 18 cents in the previous year, despite an expected revenue surge of 52% to $17.3 million. Looking ahead to the September quarter, IonQ's revenue is projected to reach $25.6 million. D-Wave, which saw a one-time revenue boost in the March quarter leading to adjusted profitability, is expected to post a narrower loss of 5 cents per share in Q2, with revenue predicted to rise by 17% to $2.6 million. Its September quarter revenue forecast stands at $3.2 million.
Quantum computing, operating at a subatomic level, leverages advanced technologies like superconducting chips to tackle computational problems beyond the scope of traditional computers. This includes complex simulations of chemical reactions and innovations in material design. D-Wave has particularly distinguished itself in the field of 'quantum annealing,' a pioneering process developed by its founders from the University of British Columbia. The quantum computing market has experienced considerable volatility throughout 2025, largely due to ongoing debates regarding the timeline for the widespread commercialization of this revolutionary technology. Nvidia, a key player in high-performance computing, has offered diverse perspectives on this evolving landscape. Despite the market's fluctuating nature, D-Wave's stock has seen a significant 120% increase in 2025, with IonQ also showing nearly 4% growth. In contrast, Rigetti has observed a modest gain of over 1%, while Quantum Computing Inc. has seen a 3% decline, highlighting the divergent performances within this cutting-edge sector.
The current market landscape reflects both the promise and the uncertainties inherent in a nascent, yet transformative, technological domain. The ongoing research and development in quantum computing promise breakthroughs that could redefine numerous industries, from medicine and materials science to artificial intelligence and finance. As these companies continue to advance their technologies and aim for commercial viability, the investment community will closely monitor their progress and financial outcomes, especially as the practical applications of quantum capabilities become more defined.