D-Wave Quantum (QBTS – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst David Williams from Benchmark Co. maintained a Buy rating on the stock and has a $14.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
David Williams has given his Buy rating due to a combination of factors that highlight D-Wave Quantum’s significant advancements and promising future prospects. The company has demonstrated substantial progress with its quantum supremacy results, showcasing its technology’s capability to outperform classical methods in real-world applications. This achievement, along with the development of a new quantum-native blockchain architecture, underscores the firm’s innovative edge and potential for further technological breakthroughs.
Additionally, D-Wave’s expanding customer base and increasing revenue opportunities, particularly in Quantum Computing as a Service (QCaaS) and hardware sales, contribute to a positive outlook. The anticipated launch of the next-generation 4,400+ qubit Advantage 2 system is expected to drive further sales and customer interest. The company’s robust financial position, with a strong cash balance and manageable cash burn, supports its path to profitability, reinforcing the Buy rating and increased price target to $14.
In another report released on May 9, B.Riley Financial also maintained a Buy rating on the stock with a $13.00 price target.