Quantinuum

QNT · NASDAQ

$35.68+$0.75 (+2.15%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $34.93

QNT analyst rating

BuyConsensus of 13 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy13
Hold0
Underperform0
Sell0

12-month price target · 13 analysts

Average $99.13 (+177.8% upside)

Low: $78.78
Now: $35.68
High: $162.75

Upgrades and downgrades

The latest rating actions, newest first

QNT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 15, 2026	Upgrade	Equal-Weight → Overweight	$78.00 → $62.00	56%
Rosenblatt	Aug 19, 2026	Maintains	Buy	$155.00	32%
Bernstein	Aug 12, 2026	Maintains	Outperform	$94.00 → $95.00	63%
Rosenblatt	Aug 12, 2026	Maintains	Buy	$155.00	32%
Needham	Aug 12, 2026	Maintains	Buy	$100.00	44%
Cantor Fitzgerald	Aug 12, 2026	Maintains	Overweight	$90.00	47%
Morgan Stanley	Jun 29, 2026	Initiates	Equal-Weight	$78.00	56%
TD Cowen	Jun 29, 2026	Initiates	Buy	—	56%
UBS	Jun 29, 2026	Initiates	Buy	$93.00	65%
JP Morgan	Jun 29, 2026	Initiates	Overweight	$97.00	67%

The case for and against

Updated Oct 14, 2026

Bull case

Quantinuum is positioned well because its vertically integrated hardware-software platform is moving from experimentation to commercial deployment, with Helios already demonstrating near-five-nines logical error rates and end-to-end error correction that de-risks Sol and Apollo. Quantinuum is also gaining strong external validation through the Oracle OCI deployment, a strategic HPE collaboration, and a growing Nexus ecosystem now used by 180+ organizations, all of which expand demand beyond early cloud access. Quantinuum is backed by a solid balance sheet with about $2.1B of cash, rising bookings, and management-guided revenue growth for 2026 and 2027, while the $100M CHIPS R&D LOI and 70,000 square feet of added manufacturing capacity support a long commercialization runway.

Bear case

Quantinuum is a high-risk early-stage quantum company whose commercialization path remains uncertain because it has not yet proven broad quantum advantage, fully fault-tolerant systems, or reliable large-scale performance. Its dependence on a limited supplier base, hyperscale cloud partners, scarce specialized talent, and patent protection adds execution fragility, while intense competition from larger players and stand-alone post-Honeywell pressures further cloud long-term prospects. Financially, the latest figures underscore weak operating leverage: revenue was $8.0M, adjusted EBITDA loss widened to $(68.3)M versus $(64.6)M consensus, non-GAAP EPS missed estimates, and adjusted gross margin slipped to 61.7%, despite $2.1B of cash and short-term investments as of June 30, 2026.

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