How Is D-Wave Quantum (QBTS) Preparing for Multi-Billion Quantum Computing Market Opportunity

D-Wave Quantum Inc. (NYSE:QBTS) is one of the top 10 high-performance computing companies to invest in.

As of the close of play on April 24, the stock carried a strongly bullish consensus sentiment. It received coverage from 14 analysts, 13 of whom assigned Buy ratings and 1 gave a Hold call. With a median 1-year target price of $36.83, it offers a lucrative upside just below 100% at the prevailing level. This supports the argument that it is one of the best high-performance computing stocks to look at.

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On April 20, Northland initiated coverage of D-Wave Quantum Inc. (NYSE:QBTS), assigning a Market Perform rating to the stock. The firm estimated a $22 target price, which results in an upside potential of more than 19% at the current level. It reflected on the broader quantum computing market opportunity, which could range from $100 billion to $250 billion.

Northland also noted the technology risk associated with execution, which appears to be much lower when viewed in terms of the whole industry. Because of this, the firm believes that by investing in all quantum computing companies, the risks are diversified away and result in “asymmetrically positively skewed projected returns.”

D-Wave Quantum Inc. (NYSE:QBTS) is engaged in developing and selling quantum computing systems, software, and services. It has an extensive product portfolio, which includes Advantage, Advantage 2, an open-source tool suite, and more. It also supplies a combination of quantum and classical computation resources.

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