Ascendiant Lifts PT on Quantum Computing (QUBT) to $40 on Strong Revenue Growth Expectation, $750M Private Placement

Quantum Computing Inc. (NASDAQ:QUBT) is one of the most buzzing stocks to buy with huge upside potential. On October 4, Ascendiant analyst Edward Woo raised the firm’s price target on Quantum Computing to $40 from $22 and kept a Buy rating on the shares.

The firm expects the company’s strong revenue growth in 2025 and 2026 to be a positive driver for the stock. Woo advised investors to focus on the company’s recently launched new products, as their successful commercialization is anticipated to drive significant revenue growth this year and next.

In other news, on October 5, Quantum Computing announced that it entered into agreements with institutional investors for an oversubscribed private placement of common stock. The placement, priced at the market under NASDAQ rules, involves the purchase and sale of 37,183,937 shares of common stock and is expected to generate gross proceeds of $750 million before deducting offering expenses.

Quantum Computing Inc. (NASDAQ:QUBT) is an integrated photonics company that provides quantum machines to commercial and government markets in the US.

While we acknowledge the potential of QUBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.