Here’s Why Wall Street is Bullish on D-Wave Quantum (QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) is one of the Best Performing NYSE Stocks According to Analysts. D-Wave Quantum Inc. (NYSE:QBTS) released strong results for its fiscal second quarter of 2025 on August 7. The company topped revenue estimates by $553,800 after demonstrating a 41.78% year-over-year growth. Wall Street is bullish on the stock, with analysts’ 12-month average price target of $21 representing a 35.92% upside from the current level.

On August 8, Mizuho Securities raised the price target on D-Wave Quantum Inc. (NYSE:QBTS) from $13 to $22, while reiterating a Buy rating on the stock. More recently, on August 11, Benchmark Co. analyst David Williams also reiterated a Buy rating on the stock with an associated price target of $20. The analyst noted that the company is making solid progress in technology, especially with their new Advantage2 system. Moreover, the company is also growing its customer base and improving financially.

D-Wave Quantum Inc. (NYSE:QBTS) develops and delivers quantum computing systems, software, and services. It provides quantum computers and cloud-based platforms to help businesses solve complex problems.

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.