D-Wave Quantum Inc. (QBTS) is a commercial quantum-computing company best known for quantum annealing systems and its Leap cloud platform, listed on the NYSE. The $35 central target is an average of the analyst price targets currently available, not a single firm's forecast.
Aggregators show a wide range. Recent individual targets include Rosenblatt at $43 (Buy), Wedbush and Craig-Hallum and B. Riley each at $40 (Outperform/Buy), BMO at $35 (Buy), Mizuho at $29 (Buy), and a more cautious Hold at $22. Depending on the data provider and analyst count, the average analyst price target sits in the mid-$30s — roughly $34.65 to $35.73 — with the full range stretching from the low $20s (or an older outlier near $18) up to $43.
Views differ meaningfully. Bullish analysts emphasize D-Wave's genuine commercial usage in optimization problems and its move into gate-model quantum computing, partly through its roughly $550 million acquisition of Quantum Circuits. More cautious analysts point to a still-tiny revenue base, widening losses, and an uncertain path to profitability. The wide range reflects that this is an early-stage, high-volatility story rather than a mature earnings-driven business.
At a recent close near $11.54, QBTS sits well below its 52-week high of roughly $37.62 and close to its 52-week low near $11.26. Reaching $35 would require a gain of about 200% from current levels — a very large move by any standard.
The path toward the target hinges less on near-term earnings and more on execution milestones. D-Wave's revenue remains small (about $12 million on a trailing basis), while net losses run into the hundreds of millions. Progress on its first gate-model machine, sustained quantum-as-a-service adoption, and government support such as CHIPS Act funding are the types of developments that could reframe how investors value the company. The stock's beta of roughly 2.2 underscores how much it amplifies broader market moves.
QBTS has been in a steep downtrend, trading below both its 50-day moving average (near $16) and 200-day moving average (near $19-$20). The $37.62 52-week high stands far above the current price and represents a major resistance zone; the $11.26 area marks the key support level investors are watching. A meaningful reversal would first require reclaiming the low-to-mid teens, with psychological levels such as $15 and $20 acting as intermediate hurdles on any path toward $35.
Analyst price targets generally reflect a research horizon of about 12 months, though individual firms may differ, and no specific timing should be assumed. Key items to watch include quarterly earnings and revenue guidance, updates on the gate-model machine and Quantum Circuits integration, any additional government funding or partnership announcements, and analyst revisions. For a stock this volatile, changes in risk appetite and interest-rate expectations can matter as much as company news.
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The $35 central target is an average of the analyst price targets currently on the table, not a promise or a forecast of where the stock will trade. From a recent price near $11.54, reaching it would require a roughly 200% advance — a very large move that would depend on sustained commercial execution, successful expansion into gate-model computing, and continued policy and investor support. Against that, D-Wave still faces deep losses, an extreme valuation, and formidable competition. The wide analyst range, from the low $20s to $43, shows genuine disagreement about how much of the long-term quantum opportunity is already priced in. Investors should watch earnings, guidance, product milestones, and analyst revisions rather than treat the $35 figure as a fixed outcome.
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A.I.dvisor indicates that over the last year, QBTS has been closely correlated with RGTI. These tickers have moved in lockstep 93% of the time. This A.I.-generated data suggests there is a high statistical probability that if QBTS jumps, then RGTI could also see price increases.
| Ticker / NAME | Correlation To QBTS | 1D Price Change % | ||
|---|---|---|---|---|
| QBTS | 100% | -7.87% | ||
| RGTI - QBTS | 93% Closely correlated | -6.72% | ||
| QUBT - QBTS | 85% Closely correlated | -3.23% | ||
| IONQ - QBTS | 85% Closely correlated | -5.30% | ||
| UMAC - QBTS | 62% Loosely correlated | -10.13% | ||
| SSYS - QBTS | 51% Loosely correlated | -4.41% | ||
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| Ticker / NAME | Correlation To QBTS | 1D Price Change % |
|---|---|---|
| QBTS | 100% | -7.87% |
| QBTS (2 stocks) | 94% Closely correlated | -6.58% |
| Computer Processing Hardware (39 stocks) | 47% Loosely correlated | -6.78% |