D-Wave Quantum Gets Price-Target Hike On Revenue Expansion Potential: Retail Sentiment Lags

Roth expects both commercial and artificial intelligence-AI related customer interest to intensify in the coming quarters.

Quantum computing stock D-Wave Quantum, Inc. (QBTS) received a price target boost late Friday on increasing customer interest.

Roth Capital upped the price target for D-Wave stock to $18 from $12 and maintained a ‘Buy’ rating. Analysts at the firm remarked that it has gained customer market interest in recent months, expanding its revenue potential across host service and hardware sales opportunities. 

Roth expects commercial and artificial intelligence-AI related customer interest to intensify in the coming quarters.

Palo Alto-based D-Wave is a provider of quantum computing systems, software and services and it builds both annealing and gate-model quantum computers.

In late May, D-Wave announced the general availability of Advantage2 Quantum Computer, a powerful and energy-efficient annealing quantum computer capable of solving computationally complex problems. 

On Stocktwits, retail sentiment toward D-Wave stock was ‘bearish’ (36/100) by late Sunday, and the message volume was ‘low.’

A user shared a bearish chart and said, “It's clear that the stock is heading further south. This could help you to get out of pattern trading.”

Retail investors, however, are optimistic about quantum computing tech in general. 

A Stocktwits poll shows that most retail traders (51%) are more bullish about quantum computing than nuclear technology. While 19% said they were equally bullish on both technologies, 30% said they were positive about nuclear tech.

D-Wave stock has gained about 81% this year. The Koyfin-compiled consensus price target for the stock is $13.82, which suggests it is trading about 9% above its one-year price potential.

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