Needham Initiates Buy Rating for Quantum Firm Pasqal SAS
Needham issued a buy rating and $16.00 price target for Pasqal SAS, citing the company's commercial progress in neutral-atom quantum computing.
Needham initiated coverage of Pasqal SAS with a buy rating and a price target of $16.00. The investment firm identified the company as one of the most commercially advanced neutral-atom quantum platforms, noting that its architecture allows for revenue generation through analog computing while the company works toward full fault tolerance.
Pasqal SAS reported a 14% increase in first-half 2026 revenue, reaching EUR 4.9 million. This growth was primarily driven by demand for quantum processing unit services. The company also disclosed EUR 70.4 million in booked and awarded business.
Despite the revenue gains, Pasqal SAS experienced wider losses attributed to share-based compensation and listing costs. Needham analyst David Williams stated that the company maintains sufficient liquidity to execute its current business plan.
