D-Wave Quantum (QBTS) Shares Surge 211% in 2025, Facing Valuation Risks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: NASDAQ.COM
- Stock Surge: D-Wave Quantum's shares skyrocketed 211% in 2025, significantly outperforming the S&P 500 and Nasdaq Composite, indicating strong market enthusiasm for quantum computing but raising concerns about its high valuation.
- Valuation Expansion: With a current price-to-sales ratio of 342, D-Wave reflects optimistic investor expectations for its future potential; however, this high valuation could lead to a sharp correction, especially as quantum computing lacks commercial scale.
- Market Environment: Over the past three years, investor enthusiasm for sectors like semiconductors, data centers, and cloud computing has surged, with D-Wave attracting speculative capital as a representative of quantum computing, despite its technology still being in exploratory stages.
- Historical Lessons: Similar to the dot-com bubble, D-Wave may face a comparable fate, and investors should be cautious of its potential “falling knife” risk, particularly in the absence of substantial commercial applications.
Analyst Views on QBTS
Wall Street analysts forecast QBTS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QBTS is 38.89 USD with a low forecast of 35.00 USD and a high forecast of 48.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
9 Buy
0 Hold
0 Sell
Strong Buy
Current: 28.720
Low
35.00
Averages
38.89
High
48.00
Current: 28.720
Low
35.00
Averages
38.89
High
48.00
About QBTS
D-Wave Quantum Inc. is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services. The Company builds and delivers systems, cloud services, application development tools, and professional services to support the end-to-end quantum computing journey for enterprises and developers. The Company's products include Cloud Platform, Systems, Professional Services, and others. Under its Cloud Platform, the Leap quantum cloud service delivers immediate, real-time access to its quantum computers and hybrid solvers services. Under its Systems, the Advantage quantum system is a quantum computer designed for business. It also offers quantum applications to a range of customers, including resource scheduling, factory scheduling, industrial construction design, drug discovery, and others. It offers solutions across workforce scheduling, production scheduling, vehicle routing, resource optimization, and cargo loading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
