Top Analyst Hikes the Price Target on D-Wave Quantum Stock (QBTS)

Quantum computing stock D-Wave Quantum (QBTS) has seen a massive rally, with its stock soaring 1,174% over the last year. The stock forecast received a price target hike from a 5-star analyst, Sujeeva De Silva of Roth MKM. De Silva lifted the price target on QBTS stock to $18 from $12 on Friday, while maintaining his “Buy” rating. The revised price target implies about 19% upside potential from current levels.

It is worth noting that De Silva ranks 101 out of more than 9,621 analysts tracked by TipRanks. He has a success rate of 51%, with an average return per rating of 26% over a one-year timeframe.

Top Analyst’s Views on QBTS Stock

According to De Silva, demand for quantum computing is gaining traction across both commercial and AI-related sectors, and D-Wave is well-placed to benefit from this trend. The 5-star analyst noted that customer interest has grown in recent months, especially in areas like hosted services and hardware sales. This could help expand the company’s revenue base over time.

He also pointed to rising engagement from the AI space, where quantum computing is gaining attention as a tool to improve certain performance steps. As AI use cases become more complex, demand for D-Wave’s offerings could grow further.

On the hardware front, the analyst said D-Wave’s first sale of its Advantage system to a key customer is a good early sign. He believes the company could secure more hardware deals going forward, with future sales possibly coming at higher price points. With the new Advantage 2 system now officially launched, De Silva thinks hardware talks could now move more quickly toward actual deals.

While De Silva admits the $18 price target reflects a “significant multiple,” he believes it is justified. If D-Wave is able to close several hardware deals each year, future revenue could better support the current valuation. In his view, D-Wave stands out as one of the most compelling players in the fast-growing world of quantum computing and AI.

Is D-Wave a Good Stock to Buy?

D-Wave is currently covered by six Wall Street analysts, all of whom hold a bullish outlook. The stock carries a Strong Buy consensus rating with all six analysts assigning a Buy rating over the past three months. However, QBTS’s average price target of $14.20 suggests approximately 6% downside potential over the next twelve months.

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