Benchmark Co. analyst David Williams reiterated a Buy rating on D-Wave Quantum (QBTS – Research Report) today and set a price target of $4.00.
David Williams has given his Buy rating due to a combination of factors that indicate a strong trajectory for D-Wave Quantum Inc. (QBTS). He has increased his price target from $2 to $4 based on significant progress in the field of quantum annealing demonstrated by D-Wave’s 4Q results. The Advantage 2 prototype system has shown remarkable improvements over its predecessor, including a 40% increase in energy scale, enhanced qubit connectivity, and a doubling of coherence time. These technological advances have been met with positive customer feedback and a growing number of problems being solved using the new system, showcasing its potential for practical applications that outpace classical systems.
Williams also notes the company’s solid business growth, with an expansion in bookings and commercial customers both quarterly and year-over-year. The transition of several new applications from proof of concept to production deployment is anticipated to create a more predictable revenue stream through Quantum Computing as a Service (QCaaS). Furthermore, the evidence of potential Quantum Supremacy with the Advantage 2 system and the exclusive partnership with Zapata for advancing Quantum machine learning and AI applications strengthen D-Wave’s market position. Williams’s confidence is also reflected in his valuation method, applying a 6.4x EV/Sales multiple to the company’s projected revenue for 2026, resulting in the updated price target.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $3.00 price target.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
D-Wave Quantum (QBTS) Company Description:
DPCM Capital Inc is a blank check company.
Read More on QBTS:
