D-Wave Leads Quantum Stock Upside at 73% as IonQ Posts $80 Million Revenue Beat

3 articles · Updated · 24/7 Wall St. · Aug 7

D-Wave tops the three U.S.-listed quantum pure-plays on implied analyst upside, with shares at $21.39 versus a $37.05 consensus target after a 32.2% one-week rally.
That bullish view rests on record Q1 bookings of $33.4 million, up about 2,000% year over year, plus a $42.4 million backlog and new research and partnership wins despite just $2.86 million in revenue.
Rigetti ranks second, trading at $16.78 against a $29.65 target, supported by up to $100 million in CHIPS Act funding, nearly tripled Q1 revenue to $4.40 million, and $569 million in cash.
IonQ has the tightest upside after its post-earnings jump, but it remains the revenue leader: Q2 sales hit $80.05 million, up 286.8%, and management raised 2026 revenue guidance to $280 million-$290 million.
Two earnings reports due today for D-Wave and Rigetti could quickly test Wall Street's optimism, with both stocks vulnerable to sharp reversals if bookings or revenue disappoint.