D-Wave Quantum's Stock Target Price Could Surge 92% in 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 22 2025
0mins
Source: Fool
- Significant Sales Growth: D-Wave Quantum's revenue reached $21.8 million in the first nine months of 2025, marking a 235% increase, driven by the strong performance of its newly released Advantage2 system, with expectations for revenue to rise to $39.5 million in 2026, indicating substantial market potential.
- Expanding Customer Base: With over 100 customers across various sectors including resource optimization, logistics, and drug discovery, D-Wave's quantum annealing technology demonstrates broad applicability, enhancing the company's competitive position in the quantum computing landscape.
- Analyst Optimism: Wall Street analysts have set a high price target of $48 for D-Wave, nearly double its current price, with a median target of $40, reflecting strong confidence in future sales growth despite ongoing losses, indicating a bullish outlook for the stock.
- Ongoing R&D Investment: Although D-Wave continues to incur quarterly losses, its significant investments in R&D and marketing are expected to facilitate future technological advancements and business expansion, though the current price-to-sales ratio of 335 times raises investment risks, necessitating caution from investors.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy QBTS?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on QBTS
Wall Street analysts forecast QBTS stock price to rise
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 23.250
Low
35.00
Averages
40.67
High
48.00
Current: 23.250
Low
35.00
Averages
40.67
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.
U.S. Government Invests in Quantum Computing Firms
- Government Investment Context: The U.S. government announced up to $100 million in equity investments in quantum computing firms, including D-Wave Quantum and Rigetti Computing, marking an unconventional investment strategy aimed at enhancing national security and reducing reliance on foreign competitors during economic pressures.
- Rigetti's Development Challenges: Rigetti is set to receive $100 million for R&D, yet its superconducting quantum computing technology, while fast, significantly lags in accuracy compared to other techniques, leading to delays in its new system release and exclusion from DARPA's Quantum Benchmarking Initiative.
- D-Wave's Technological Edge: D-Wave Quantum will also receive $100 million to focus on its 100,000-qubit annealing system and 10,000-qubit gate-model system, excelling in optimization problem-solving, but still needs to advance in traditional gate-based quantum computing.
- Diverse Investment Analysis: The investments span various quantum computing technologies, including superconducting, annealing, and neutral-atom methods, indicating a broad government bet on competing technologies rather than validation of individual stocks, suggesting that both D-Wave and Rigetti remain highly speculative investment choices.
See More
Government Investments in Quantum Computing Amidst Technical Challenges
- Government Support: The U.S. government announced equity investments of up to $100 million each in Rigetti Computing and D-Wave Quantum to support their quantum computing technologies, marking a proactive governmental approach in the quantum sector, typically seen during economic distress.
- Significant Technical Challenges: Rigetti's superconducting quantum computing technology, while fast, achieved only 99.1% 2-qubit gate fidelity, falling short of the targeted 99.5%, leading to delays in the release of its new system, highlighting major accuracy issues facing the company.
- D-Wave's Progress: D-Wave Quantum will also receive $100 million to accelerate the development of its 100,000-qubit annealing system and 10,000-qubit gate-model system, showcasing its strength in optimization problems, yet it still needs breakthroughs in traditional gate-model quantum computing.
- Diverse Investment Landscape: The government's investments span various quantum computing technologies, including Rigetti's superconducting approach and D-Wave's dual-rail qubit architecture, indicating a broad bet on competing technologies rather than validation of individual stocks, suggesting a highly speculative market environment.
See More
D-Wave Quantum Stock Plummets 8.9% Amid Market Concerns
- Significant Price Drop: D-Wave Quantum's stock fell 8.9% on Tuesday, closing at $23.52, resulting in a market cap of $8.8 billion, indicating a potential decline in investor confidence in quantum computing technologies that could affect future funding capabilities.
- Broader Market Weakness: The S&P 500 declined by 0.3% and the Nasdaq Composite fell by 1%, reflecting a waning investor confidence in the artificial intelligence sector, which may lead to a broader market downturn.
- Investor Anxiety Heightens: Ahead of the upcoming Consumer Price Index (CPI) report, investors are increasingly anxious about the Federal Reserve's potential interest rate moves, contributing to selling pressure that saw D-Wave's stock drop as much as 13.5% during the session.
- Valuation Risks: Despite D-Wave's high price-to-sales ratio of 207, indicating strong growth expectations, the recent stock pullback may prompt investors to reassess their investment risks, particularly in the context of increasing market volatility.
See More
D-Wave Quantum Stock Plummets Amid Market Pressures
- Stock Decline: D-Wave Quantum's stock fell by 8.9% today, coinciding with a broader market downturn where the S&P 500 dropped by 0.3% and the Nasdaq Composite fell by 1%, indicating a weakening market sentiment.
- Increased Market Pressures: Earlier in the session, D-Wave's stock was down as much as 13.5%, reflecting diminishing investor confidence in the artificial intelligence sector, particularly ahead of the upcoming Consumer Price Index (CPI) report that could influence Federal Reserve interest rate decisions.
- Valuation Challenges: With a market capitalization of $8.8 billion and a price-to-sales ratio of approximately 207 times this year's expected sales, D-Wave Quantum's revolutionary quantum computing technologies present a valuation conundrum, as the high ratio suggests strong growth is already priced in, posing significant risks for investors.
- Uncertain Investment Outlook: Although today's pullback makes D-Wave's stock appear more attractive, investors should remain cautious, as long-term investments could yield either explosive returns or substantial losses, leading analysts to recommend waiting for a larger pullback before considering investment.
See More
D-Wave Stock Plummets 11% Amid Market Sell-Off
- Market Panic Impact: D-Wave Quantum's stock plummeted 11% on Friday morning as a result of a broader tech sell-off triggered by Broadcom's warning that AI chip demand may not grow as quickly as investors hoped, reflecting widespread investor anxiety in the tech sector.
- No Specific Bad News: The decline in D-Wave's stock is not attributed to missed earnings reports or analyst downgrades; rather, it is a reaction to overall market sentiment, with shares of Nvidia and Bitcoin also experiencing significant drops, indicating a risk-off attitude among investors.
- Bleak Profit Outlook: Analysts predict that D-Wave will not achieve profitability until at least 2030 and will likely burn through over $500 million in cash before reaching that milestone, raising greater concerns about its future profitability in the current market climate.
- Investment Risk Advisory: While D-Wave Quantum holds potential in the quantum computing space, the industry is still in its infancy, and investors should carefully assess their risk tolerance before considering purchases, especially given the heightened uncertainty in the market right now.
See More
Quantum Stocks Decline While Consumer Staples Rise
- Quantum Stocks Struggle: Quantinuum's debut on Nasdaq was lackluster, closing flat and subsequently dropping over 8% on Friday, falling below its IPO price of $60 per share, indicating market caution towards the quantum computing sector which may impact future funding and investor confidence.
- Consumer Staples Surge: Amid Friday's market sell-off, the consumer staples sector rose 2%, with companies like Colgate-Palmolive, Coca-Cola, and Procter & Gamble gaining over 3%, reflecting investor preference for defensive stocks, which could lead to a shift in capital towards these stable industries.
- Strong Performance in Medical Devices: Cooper Companies reported second-quarter adjusted earnings of $1.21 per share, exceeding the $1.10 consensus estimate, with revenue of $1.08 billion surpassing the $1.05 billion forecast, showcasing robust performance in the medical device sector that may attract more investor interest.
- Software Stocks Outlook Weakens: Docusign's outlook failed to impress, with shares slipping 6% as it projected second-quarter revenue between $865 million and $869 million, slightly below consensus, potentially affecting its future market performance and investor confidence.
See More
U.S. Government Invests in Quantum Computing Firms
- Government Investment Context: The U.S. government announced up to $100 million in equity investments in quantum computing firms, including D-Wave Quantum and Rigetti Computing, marking an unconventional investment strategy aimed at enhancing national security and reducing reliance on foreign competitors during economic pressures.
- Rigetti's Development Challenges: Rigetti is set to receive $100 million for R&D, yet its superconducting quantum computing technology, while fast, significantly lags in accuracy compared to other techniques, leading to delays in its new system release and exclusion from DARPA's Quantum Benchmarking Initiative.
- D-Wave's Technological Edge: D-Wave Quantum will also receive $100 million to focus on its 100,000-qubit annealing system and 10,000-qubit gate-model system, excelling in optimization problem-solving, but still needs to advance in traditional gate-based quantum computing.
- Diverse Investment Analysis: The investments span various quantum computing technologies, including superconducting, annealing, and neutral-atom methods, indicating a broad government bet on competing technologies rather than validation of individual stocks, suggesting that both D-Wave and Rigetti remain highly speculative investment choices.
See More
Government Investments in Quantum Computing Amidst Technical Challenges
- Government Support: The U.S. government announced equity investments of up to $100 million each in Rigetti Computing and D-Wave Quantum to support their quantum computing technologies, marking a proactive governmental approach in the quantum sector, typically seen during economic distress.
- Significant Technical Challenges: Rigetti's superconducting quantum computing technology, while fast, achieved only 99.1% 2-qubit gate fidelity, falling short of the targeted 99.5%, leading to delays in the release of its new system, highlighting major accuracy issues facing the company.
- D-Wave's Progress: D-Wave Quantum will also receive $100 million to accelerate the development of its 100,000-qubit annealing system and 10,000-qubit gate-model system, showcasing its strength in optimization problems, yet it still needs breakthroughs in traditional gate-model quantum computing.
- Diverse Investment Landscape: The government's investments span various quantum computing technologies, including Rigetti's superconducting approach and D-Wave's dual-rail qubit architecture, indicating a broad bet on competing technologies rather than validation of individual stocks, suggesting a highly speculative market environment.
See More
D-Wave Quantum Stock Plummets 8.9% Amid Market Concerns
- Significant Price Drop: D-Wave Quantum's stock fell 8.9% on Tuesday, closing at $23.52, resulting in a market cap of $8.8 billion, indicating a potential decline in investor confidence in quantum computing technologies that could affect future funding capabilities.
- Broader Market Weakness: The S&P 500 declined by 0.3% and the Nasdaq Composite fell by 1%, reflecting a waning investor confidence in the artificial intelligence sector, which may lead to a broader market downturn.
- Investor Anxiety Heightens: Ahead of the upcoming Consumer Price Index (CPI) report, investors are increasingly anxious about the Federal Reserve's potential interest rate moves, contributing to selling pressure that saw D-Wave's stock drop as much as 13.5% during the session.
- Valuation Risks: Despite D-Wave's high price-to-sales ratio of 207, indicating strong growth expectations, the recent stock pullback may prompt investors to reassess their investment risks, particularly in the context of increasing market volatility.
See More
D-Wave Quantum Stock Plummets Amid Market Pressures
- Stock Decline: D-Wave Quantum's stock fell by 8.9% today, coinciding with a broader market downturn where the S&P 500 dropped by 0.3% and the Nasdaq Composite fell by 1%, indicating a weakening market sentiment.
- Increased Market Pressures: Earlier in the session, D-Wave's stock was down as much as 13.5%, reflecting diminishing investor confidence in the artificial intelligence sector, particularly ahead of the upcoming Consumer Price Index (CPI) report that could influence Federal Reserve interest rate decisions.
- Valuation Challenges: With a market capitalization of $8.8 billion and a price-to-sales ratio of approximately 207 times this year's expected sales, D-Wave Quantum's revolutionary quantum computing technologies present a valuation conundrum, as the high ratio suggests strong growth is already priced in, posing significant risks for investors.
- Uncertain Investment Outlook: Although today's pullback makes D-Wave's stock appear more attractive, investors should remain cautious, as long-term investments could yield either explosive returns or substantial losses, leading analysts to recommend waiting for a larger pullback before considering investment.
See More
D-Wave Stock Plummets 11% Amid Market Sell-Off
- Market Panic Impact: D-Wave Quantum's stock plummeted 11% on Friday morning as a result of a broader tech sell-off triggered by Broadcom's warning that AI chip demand may not grow as quickly as investors hoped, reflecting widespread investor anxiety in the tech sector.
- No Specific Bad News: The decline in D-Wave's stock is not attributed to missed earnings reports or analyst downgrades; rather, it is a reaction to overall market sentiment, with shares of Nvidia and Bitcoin also experiencing significant drops, indicating a risk-off attitude among investors.
- Bleak Profit Outlook: Analysts predict that D-Wave will not achieve profitability until at least 2030 and will likely burn through over $500 million in cash before reaching that milestone, raising greater concerns about its future profitability in the current market climate.
- Investment Risk Advisory: While D-Wave Quantum holds potential in the quantum computing space, the industry is still in its infancy, and investors should carefully assess their risk tolerance before considering purchases, especially given the heightened uncertainty in the market right now.
See More
Quantum Stocks Decline While Consumer Staples Rise
- Quantum Stocks Struggle: Quantinuum's debut on Nasdaq was lackluster, closing flat and subsequently dropping over 8% on Friday, falling below its IPO price of $60 per share, indicating market caution towards the quantum computing sector which may impact future funding and investor confidence.
- Consumer Staples Surge: Amid Friday's market sell-off, the consumer staples sector rose 2%, with companies like Colgate-Palmolive, Coca-Cola, and Procter & Gamble gaining over 3%, reflecting investor preference for defensive stocks, which could lead to a shift in capital towards these stable industries.
- Strong Performance in Medical Devices: Cooper Companies reported second-quarter adjusted earnings of $1.21 per share, exceeding the $1.10 consensus estimate, with revenue of $1.08 billion surpassing the $1.05 billion forecast, showcasing robust performance in the medical device sector that may attract more investor interest.
- Software Stocks Outlook Weakens: Docusign's outlook failed to impress, with shares slipping 6% as it projected second-quarter revenue between $865 million and $869 million, slightly below consensus, potentially affecting its future market performance and investor confidence.
See More
