D-Wave Quantum price target raised to $41 from $20 at Canaccord

Canaccord raised the firm’s price target on D-Wave Quantum (QBTS) to $41 from $20 and keeps a Buy rating on the shares. The firm said D-Wave’s business performed well in Q325 with $3.7M in revenue squarely beating consensus estimates. $2.4M in total bookings is up meaningfully from $1.3M in Q2’25. Canaccord views bookings as the best indicator of the health of the business, so we’re encouraged to see that figure up quarter-over-quarter and year-over-year in Q3.