Quinn Bolton, an analyst from Needham, maintained the Buy rating on D-Wave Quantum (QBTS – Research Report). The associated price target remains the same with $8.50.
Quinn Bolton has given his Buy rating due to a combination of factors that highlight D-Wave Quantum’s promising technological advancements and strategic roadmap. The company is on the verge of launching the Advantage2 system, which promises significant improvements in coherence time, connectivity, and energy efficiency, marking a substantial step forward in their quantum computing capabilities.
Additionally, D-Wave’s ambitious plans to scale to a 100,000-qubit system through the interconnection of multiple chips demonstrate a clear path for future growth and innovation. The acceleration of their gate-model program, with enhancements in cryogenic and digital controls, further underscores their commitment to advancing performance and maintaining a competitive edge in the quantum computing industry.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QBTS in relation to earlier this year.