Analysts See More Than 90% Upside for D-Wave Quantum (QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) is one of the Best Quantum Computing Stocks to buy and Hold Forever. Analysts project more than 99% upside from the current level over the next 12-months. This comes despite the stock being down 15.6% over the past month. The bullish sentiment is based on an impressive 2000% year-over-year surge in quarterly bookings.

​Several analyst firms have raised price targets on the stock in the past month. Recently, on June 15, Mizuho raised the price target on D-Wave Quantum Inc. (NYSE:QBTS) from $29 to $35, while maintaining an Outperform rating on the stock. The rating came after the company’s first Analyst Day presentation.

​The firm noted D-Wave’s annealing and superconducting roadmap targets a quantum computing total addressable market of roughly $450 billion to $850 billion by 2040. Moreover, gate-based quantum computing could add another 75% to that market, on top of annealing. During the presentation, the company also showcased quantum error correction cycle times under 5 microseconds, with scaling that outperforms competing approaches.

​The company also updated its long-term financial targets. It expects gross margins of 65% to 75% for Quantum Computing as a Service, 40% to 50% for Professional Services, and 75% to 90% for Computing Systems.

D-Wave Quantum Inc. (NYSE:QBTS) is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services.

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