Strong Fiscal Results: D-Wave Quantum Inc. (NYSE: QBTS) reported a robust fiscal second quarter for 2025, surpassing revenue estimates by $553,800 and achieving a year-over-year growth of 41.78%.
Analyst Sentiment: Wall Street analysts are optimistic about the stock, with a 12-month average price target of $21, indicating a potential upside of 35.92% from its current price.
Analyst Upgrades and Ratings
Mizuho Securities Upgrade: On August 8, Mizuho Securities increased its price target for D-Wave from $13 to $22, maintaining a Buy rating, reflecting confidence in the company's growth trajectory.
Benchmark Co. Support: On August 11, Benchmark Co. analyst David Williams reiterated a Buy rating with a price target of $20, highlighting the company's advancements in technology, particularly with the new Advantage2 system.
Company Profile and Market Position
Core Business: D-Wave Quantum Inc. specializes in quantum computing systems, software, and services, providing cloud-based platforms designed to assist businesses in solving complex problems.
Growth and Financial Improvement: The company is not only expanding its customer base but is also showing significant financial improvements, reinforcing its position in the quantum computing market.
Investment Considerations
Comparative Analysis: While D-Wave Quantum Inc. shows potential as an investment, there are suggestions that certain AI stocks may offer better upside potential with lower downside risk.
Additional Resources: The article hints at a free report on undervalued AI stocks that could benefit from current market trends, particularly those related to tariffs and onshoring.
QBTS
$24.14+Infinity%1D
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
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 Buy
0 Hold
0 Sell
Strong Buy
Current: 26.100
Low
35.00
Averages
38.89
High
48.00
Current: 26.100
Low
35.00
Averages
38.89
High
48.00
Mizuho
Outperform
initiated
$46
2025-12-11
New
Reason
Mizuho
Price Target
$46
2025-12-11
New
initiated
Outperform
Reason
Mizuho initiated coverage of D-Wave Quantum with an Outperform rating and $46 price target. The firm sees the company "driving a dual track" to annealing and gate model with potential for acquisitions. D-Wave is a "dominant" quantum annealing player in the near-term emerging optimization market, the analyst tells investors in a research note.
Evercore ISI
Outperform
initiated
$44
2025-12-03
Reason
Evercore ISI
Price Target
$44
2025-12-03
initiated
Outperform
Reason
Evercore ISI initiated coverage of D-Wave Quantum with an Outperform rating and $44 price target. The firm, which views D-Wave as "a leading play" as the computing industry shifts to a quantum computing era, highlights it as the first quantum company with commercial revenues, a full stack ecosystem and one that is well-funded.
Benchmark
David Williams
Buy
maintain
$20 -> $35
2025-11-10
Reason
Benchmark
David Williams
Price Target
$20 -> $35
2025-11-10
maintain
Buy
Reason
Benchmark analyst David Williams raised the firm's price target on D-Wave Quantum to $35 from $20 and keeps a Buy rating on the shares following what the firm calls "another quarter of strong progress with continued momentum on the path to broad commercialization and sustainable profitability." Despite the momentum reversal across the emerging technology landscape, specifically in quantum, the firm remains confident in D-Wave's unique architecture and ongoing technology progress and encourages investors to be "opportunistic in gaining exposure."
Canaccord
Buy
maintain
$20 -> $41
2025-11-07
Reason
Canaccord
Price Target
$20 -> $41
2025-11-07
maintain
Buy
Reason
Canaccord raised the firm's price target on D-Wave Quantum to $41 from $20 and keeps a Buy rating on the shares. The firm said D-Wave's business performed well in Q325 with $3.7M in revenue squarely beating consensus estimates. $2.4M in total bookings is up meaningfully from $1.3M in Q2'25. Canaccord views bookings as the best indicator of the health of the business, so we're encouraged to see that figure up quarter-over-quarter and year-over-year in Q3.
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.
