Wall Street Analysts Predict More Than 160% Upside in These Stocks

: IONQ | IonQ, Inc. News, Ratings, and Charts

IONQ – The high global inflation and hawkish federal reserve are leading to heightened volatility in the market. However, despite the market uncertainties, Wall Street analysts see a more than 160% upside potential in IonQ (IONQ) and Rigetti Computing (RGTI). Thus, these stocks could be ideal additions to your watchlist. Keep reading….

Concerns over the 40-year high inflation and hawkish federal reserve have pushed the benchmark indices into the bear market territory. Bearish sentiment is still widespread, and the market is likely to continue to feel the pressure in the near term as well.

“The overwhelming mentality remains gloomy, with most people just trying to avoid bear-market rallies, convinced the SPX has several hundred points of further downside over the coming months,” wrote Adam Crisafulli of Vital Knowledge.

However, certain financially robust stocks possess solid upside potential and might perform well in the long run. And staying invested is important, or one can miss out on long-term returns.

Despite the market downturns, Wall Street analysts believe IonQ, Inc. (IONQ) and Rigetti Computing, Inc. (RGTI) could rally by more than 160% in the near term. Thus, these stocks could be worth adding to your watchlist.

IonQ, Inc. (IONQ)

IONQ engages in the development of general-purpose quantum computing systems. The company offers access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS), Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace.

On May 17, 2022, IONQ launched IonQ Forte, its latest generation of quantum systems. Forte features acousto-optic deflector (AOD) technology, which nullifies noise and overcomes variations in ion position, which is critical for scaling quantum computers. Given the growing quantum computing market, the company should benefit from this development.

Furthermore, on June 23, 2022, IONQ announced its partnership with GE Research to explore the benefits of quantum computing concerning risk management. This collaboration is expected to achieve record feats in quantum computing.

For the first quarter ended March 31, 2022, IONQ’s revenue came in at $1.95 million, up 1,462.4% year-over-year. Its net loss decreased 42.4% year-over-year to $4.23 million, while its loss per share came in at $0.02, down 66.7% year-over-year. Moreover, its cash and cash equivalents came in at $86.75 million, up 144.2% year-over-year.

IONQ’s revenue is expected to increase 406.9% year-over-year to $10.64 million in 2022. Its EPS is expected to grow 20% per annum for the next five years.

IONQ declined 26.1% over the past month, closing the last trading session at $4.38. However, Wall Street analysts expect the stock to hit $11.50 soon, indicating a potential upside of 162.6%.

Rigetti Computing, Inc. (RGTI)

RGTI operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform.

On June 21, 2022, Rigetti UK Limited, a wholly-owned subsidiary of RGTI, announced the launch of its 32-qubit Aspen-series quantum computer in the UK. Chad Rigetti, RGTI’s founder and CEO, said, “We believe deploying our first UK-based quantum computer is a major step towards our vision to integrate QPUs into the fabric of the cloud.”

RGTI’s net cash provided by financing activities came in at $213.44 million for the first quarter ended March 31, 2022, up 1,674.9% year-over-year. Its cash and restricted cash came in at $206.94 million, up 609.2% year-over-year.

RGTI’s revenue is expected to grow 123.7% year-over-year to $12.40 million in 2022. Its EPS is estimated to grow 60.3% in 2022.

RGTI shares have slumped 45% over the past three months closing the last trading session at $3.67. However, Wall Street analysts expect the stock to hit $11.50 soon, indicating a potential upside of 213.4%.


IONQ shares were trading at $4.34 per share on Friday afternoon, down $0.04 (-0.91%). Year-to-date, IONQ has declined -74.01%, versus a -20.15% rise in the benchmark S&P 500 index during the same period.


About the Author: Riddhima Chakraborty


Riddhima is a financial journalist with a passion for analyzing financial instruments. With a master's degree in economics, she helps investors make informed investment decisions through her insightful commentaries. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
IONQGet RatingGet RatingGet Rating
RGTIGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


Should Investors BEWARE this Market?

The S&P 500 (SPY) has been on a tear since November 1st when the Fed started to make their dovish tilt opening the door to future rate cuts. Unfortunately they keep not happening and start date keeps getting pushed further and further out. That has many wondering if stocks are getting ahead of themselves setting things up for a fall. Thus a good time to tune into what investment veteran Steve Reitmeister has to say about the market outlook along with his trading plan and top picks to stay ahead of the pack. Read on below for more...

Top 4 Tech Giants Poised for Explosive Growth

Fueled by the ever-growing demand for advanced technological solutions across various sectors and ongoing innovation, the tech industry has robust growth prospects. Thus, it could be wise to invest in top tech stocks Dropbox (DBX), TTM Technologies (TTMI), Lantronix (LTRX) and AstroNova (ALOT) for potential growth. Continue reading…

3 Top Rated Software Stocks to Streamline Your Investments

The software industry is thriving with soaring demand, presenting ample investment opportunities. So, fundamentally solid software stocks ServiceNow (NOW), Autodesk (ADSK), and Docebo (DCBO) might be ideal buys for promising returns. Read on...

Biotech Investors: Should You Buy, Hold, or Sell Moderna (MRNA) and Arrowhead Pharmaceuticals (ARWR)?

Despite facing several challenges, the biotech sector thrives due to growing demand for effective treatments, consistent innovations, and a sustained demand for high-quality drugs and therapies. Let's assess whether one should Buy, Hold, or Sell biotech stocks Moderna (MRNA) and Arrowhead Pharmaceuticals (ARWR). Keep reading...

Is the Bull Market Growing Tired?

On the one hand it is fun to celebrate the new highs for the S&P 500 (SPY) that came in this Tuesday. On the other hand...it doesn’t make a lot of sense calling into question the next moves for the stock market. Read on below to appreciate investment veteran, Steve Reitmeister’s, market outlook and top picks to outperform.

Read More Stories

More IonQ, Inc. (IONQ) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All IONQ News