Stock Performance: QuantumScape Corporation's stock surged 6% after announcing a joint development agreement with a top-10 global automaker, marking a significant step in its commercial roadmap for solid-state lithium-metal battery technology.
Partnership Expansion: The company has expanded collaborations with Volkswagen and secured new agreements with two major automakers, alongside partnerships with Murata Manufacturing and Corning Inc. to enhance battery production capabilities.
Commercial Momentum: QuantumScape's shares have increased by 109% this year, driven by advancements in battery technology, initial customer billings, and real-world testing with partners, indicating strong commercial momentum.
Financial Highlights: In its third-quarter report, QuantumScape beat loss estimates, reported $12.8 million in customer billings, and began shipping samples of its QSE-5 solid-state battery cells, while projecting a full-year adjusted EBITDA loss of $245 million to $260 million.
Wall Street analysts forecast QS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QS is 11.29 USD with a low forecast of 2.50 USD and a high forecast of 16.00 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.
8 Analyst Rating
Wall Street analysts forecast QS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QS is 11.29 USD with a low forecast of 2.50 USD and a high forecast of 16.00 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.
0 Buy
6 Hold
2 Sell
Hold
Current: 11.050
Low
2.50
Averages
11.29
High
16.00
Current: 11.050
Low
2.50
Averages
11.29
High
16.00
Morgan Stanley
Equal Weight
initiated
$12
2025-12-08
Reason
Morgan Stanley
Price Target
$12
AI Analysis
2025-12-08
initiated
Equal Weight
Reason
Morgan Stanley initiated coverage of QuantumScape with an Equal Weight rating and $12 price target. The firm says the company continues burn cash and has a "finite" cash runway as it invests in next-stage programs. As such, it views the stock's current risk/reward as balanced.
Evercore ISI
Outperform -> In Line
downgrade
$8 -> $12
2025-11-24
Reason
Evercore ISI
Price Target
$8 -> $12
2025-11-24
downgrade
Outperform -> In Line
Reason
Evercore ISI downgraded QuantumScape to In Line from Outperform with a price target of $12, up from $8. The firm cites valuation for the downgrade with the shares up 200% year-to-date The analyst gives QuantumScape positive consideration to its non-auto opportunities in humanoid, drone and storage, but says material auto revenue now appears more likely to start in 2029.
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HSBC
Laisha Zaack
Hold
to
Reduce
downgrade
2025-11-19
Reason
HSBC
Laisha Zaack
Price Target
2025-11-19
downgrade
Hold
to
Reduce
Reason
HSBC analyst Laisha Zaack downgraded QuantumScape to Reduce from Hold with a price target of $10.50, up from $5.30. While the company has made progress on its targets and announced some key agreements and partnerships, visibility or the disclosure of contract economics remains limited, the analyst tells investors in a research note. HSBC believes QuantumScape shares already reflectsa "bullish scenario." The firm now sees more risk to the downside than upside, citing a lack details on the licensing contract structure and new revenue streams.
TD Cowen
Gabe Daoud
Hold
maintain
$5 -> $16
2025-10-30
Reason
TD Cowen
Gabe Daoud
Price Target
$5 -> $16
2025-10-30
maintain
Hold
Reason
TD Cowen analyst Gabe Daoud raised the firm's price target on QuantumScape to $16 from $5 and keeps a Hold rating on the shares. The firm updaed its model post the recent Q3 results, which provided positive updates around commercial engagement and ecosystem expansion. A new active engagement with a new Top 10 global automaker and the Murata partnership advancement are encouraging and bring the Cobra process one step closer to commercialization at scale.
About QS
QuantumScape Corporation is developing solid-state lithium-metal battery technology for electric vehicles (EVs) and other applications. The Company’s solid-state lithium-metal battery technology is designed to offer energy density, faster charging, and enhanced safety. Its battery cells have none of the host materials used in conventional anodes. The Company's cells are anode-free in that they are manufactured without anodes in a discharged state. It has demonstrated a solid-state separator for lithium-metal batteries capable of resisting dendrite formation at higher power densities, such as those required for automotive applications and fast charging, for at least 800 cycles at around 25 degrees Celsius. The Company's solid-state electrolyte-separator is a dense, entirely inorganic ceramic. The Company's solid-state battery technology has applicability in other markets, including stationary storage and consumer electronics, such as smartphones and wearables, among others.
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.
