D-Wave Quantum (QBTS): Needham Reiterates Buy Rating with PT of $48

D-Wave Quantum Inc. (NYSE:QBTS) is one of the High-Flying Stocks to Buy Right Now. On January 22, Needham’s analyst, Quinn Bolton, reiterated a “Buy” rating with the price objective of $48. The analyst noted the company’s competitive edge in the broader quantum computing landscape, thanks to the acquisition of Quantum Circuits.

D-Wave Quantum (QBTS): Needham Reiterates Buy Rating with PT of $48

Notably, the firm’s analyst expects that Quantum Circuits’ dual-rail qubits and D-Wave Quantum Inc. (NYSE:QBTS)’s cooling systems are expected to help build quantum computers with thousands of qubits.

On January 20, D-Wave Quantum Inc. (NYSE:QBTS) announced the completion of its acquisition of Quantum Circuits Inc. This cements D-Wave Quantum Inc. (NYSE:QBTS)’s position as the first and only dual-platform quantum computing company worldwide, which builds annealing as well as gate-model quantum computing systems. These are built to cater to the full range of customers’ complex computational problems.

D-Wave Quantum Inc. (NYSE:QBTS) added that it has been helping the industry by delivering best-in-class annealing and gate-model technologies.

D-Wave Quantum Inc. (NYSE:QBTS) develops and delivers quantum computing systems, software, and services.

While we acknowledge the potential of QBTS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QBTS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.