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.

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