D-Wave Quantum (QBTS) continues to show strong momentum, with the stock up 106% so far in 2025. Riding this wave, Benchmark’s top analyst David Williams reaffirmed his Buy rating and a price target of $20 per share, indicating 15% upside from current levels. The 5-star analyst highlighted the company’s solid progress in technology, growing customer base, and improving financials. He called the current stock price an “attractive entry point” for investors who see potential in quantum computing.
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The new report follows the company’s recent mixed second-quarter results. The adjusted loss came in at $0.08 per share, wider than the Street’s forecast of a $0.05 loss. However, revenue rose 42% year-over-year to $3.1 million, beating expectations of $2.54 million.
Top Analyst Sees Clear Progress and Long-Term Potential
Williams noted that D-Wave’s rapid increase in revenue and expanding customer base reflect growing market confidence in the company. He also emphasized D-Wave’s unique leadership in “annealing quantum computing,” which gives it an edge in solving difficult computing challenges.
According to Williams, one of the company’s biggest strengths is its cash position, which recently exceeded $819 million. This gives D-Wave plenty of room to spend on its own research and to buy other companies that fit its goals. He believes this strong cash reserve will help the company solve many important problems and support growth over the long term.
Williams also pointed out that D-Wave is already showing real results, with customers using its products in practical settings. This progress is an important step toward turning research into a real business.
Looking ahead, Williams expects the Advantage2 system to continue attracting new customers and boosting sales in the near term. Overall, Williams sees the current stock price as an “attractive entry point.” He feels the market has yet to fully recognize D-Wave’s “differentiated advantage” in solving real-world problems on a large scale.
Is QBTS Stock a Good Buy?
Turning to Wall Street, D-Wave Quantum stock has a Strong Buy consensus rating based on 11 Buys and one Hold rating assigned in the last three months. At $21.88, the average QBTS stock price target implies a 25.96% upside potential.
