Gotrade News - Quantum computing stocks have moved back into focus after a wave of analyst actions and corporate updates over the past two weeks. Insider Monkey on May 5, 2026 mapped five quantum names that long-term investors are tracking closely.
Key Takeaways
- HSBC upgraded IBM to Hold with a $231 target on quantum business valuation grounds.
- Northland initiated coverage on QUBT, QBTS, and RGTI on April 20, 2026 with an AI-compute thesis.
- IonQ expanded into quantum-safe networking through a deal with Florida LambdaRail.
HSBC Upgrade Shifts the IBM Narrative
HSBC upgraded IBM from Sell to Hold on April 28, 2026, according to Insider Monkey. The bank also raised its price target from $218 to $231, citing the value of IBM's quantum business.
HSBC values IBM's quantum division at roughly $35 billion and as much as $51 billion using IonQ and Rigetti peer multiples. The analyst consensus 12-month target now points to over 23% upside from current levels.
Northland Opens Coverage on Three Pure-Play Names
Northland Capital Markets started coverage on three pure-play quantum stocks on April 20, 2026, according to Insider Monkey. The firm pegs the broader quantum industry enterprise value at roughly $88 billion.
Northland gave QUBT a Buy rating with a $20 target and a $100 to $250 billion addressable market estimate. It rated QBTS Hold and RGTI Market Perform, both with $22 and $20 targets respectively.
AI Compute Demand Anchors the Bull Case
Northland argues quantum systems can solve optimization problems that classical computing handles inefficiently, particularly large language model training. That thesis underpins its long runway view for quantum names through 2035.
Mizuho Securities kept a Buy rating on RGTI but trimmed its target from $43 to $33. Mizuho still calls quantum early on its S-curve despite cutting projections on macro and oil price concerns.
IonQ Pushes Into Quantum-Safe Networking
IonQ announced a Master Service Agreement with Florida LambdaRail on April 27, 2026 to build a quantum-safe network across the state. The first phase covers a roughly 100-mile quantum corridor connecting Palm Beach County to Miami-Dade.
The project deploys quantum key distribution over existing fiber to secure encryption key sharing between research institutions. Around 13 of 16 analysts covering IONQ rate it a Buy, with a consensus 12-month upside above 32%.
Q1 2026 Earnings Are the Next Catalyst
QUBT is scheduled to release Q1 2026 earnings on May 13 with expected revenue of $3.28 million and GAAP EPS of -$0.05. RGTI follows on May 11 with projected revenue of $4.09 million and EPS of -$0.06.
QBTS reports on May 12 with expected revenue of $4.14 million and GAAP EPS of -$0.10, according to Insider Monkey. Sell-side coverage on QBTS shows 15 of 17 analysts at Buy with a 12-month target averaging 85% above current prices.
Conclusion
The renewed bid for quantum stocks rests on the HSBC upgrade for IBM, Northland's pure-play coverage launches, and IonQ's expansion into quantum-safe networking. Long-term investors can use the May 11 to May 13 earnings window as a confirmation test for the sector growth thesis.
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References
- Insider Monkey, "Heres Why Quantum Computing (QUBT) Is One of the Best Quantum Computing Stocks", May 5, 2026.
- Insider Monkey, "Heres What the Street Thinks About D-Wave Quantum (QBTS) Ahead of FQ1 2026 Earnings", May 5, 2026.
- Insider Monkey, "Northland Believes Compute Demand for AI Leading Quantum Industry: Rigetti Computing (RGTI)", May 5, 2026.
- Insider Monkey, "IonQ Inc (IONQ) Signs a MSA with Florida LambdaRail", May 5, 2026.
- Insider Monkey, "HSBC Upgrades International Business Machines Corporation (IBM) on Quantum Business Valuation", May 5, 2026.
