D-Wave Stock Jumps As Analyst Doubles Price Target Citing Leadership Among Quantum Computing Stocks: Retail Keen On Adding To Positions

B. Riley analyst Craig Ellis said D-Wave is a “differentiated tile in the quantum mosaic” with a “clearly visible commercial uptake path.”

D-Wave Stock Jumps As Analyst Doubles Price Target Citing Leadership Among Quantum Computing Stocks: Retail Keen On Adding To Positions

D-Wave Quantum, Inc. ($QBTS) stock bounced back from a four-session steep sell-off and rallied sharply in early trading on Tuesday. Traders likely took advantage of the recent weakness and piled into the stock.

A positive analyst action and a tamer December producer price inflation report served as immediate upside triggers.

B. Riley analyst Craig Ellis upped the price target for D-Wave stock to $9 from $4.50 and maintained a ‘Buy’ rating, TheFly reported. The revised price target points to roughly 135% upside from current levels.

After rising 855% in 2025, the stock has pulled back by over 54% so far in January.

The analyst highlighted B. Riley’s industry research, which supported path to commercialization, led by D-Wave. He noted that D-Wave had stronger-than-expected bookings in the fourth quarter

Also, investor sector engagement appetite is doubling, he said.

Ellis sees D-Wave as a “differentiated tile in the quantum mosaic” with a “clearly visible commercial uptake path.” He noted significant commercial progress and balance sheet improvement.

Quantum computing stocks, which rallied strongly in 2024, started the new year on the back foot, pressured by broader market weakness and worries concerning stretched valuations not backed up by fundamentals. 

Nvidia Corp. (NVDA) CEO Jensen Huang aggravated the weakness further by suggesting that it might take 15 to 30 years to develop very useful quantum computers. 

D-Wave CEO Alan Baratz shot back by stating that Hiuang is “dead wrong” about D-Wave's annealing quantum computing and that the company’s solutions were already available and used to solve real-world problems of businesses, researchers, and governments.

On Stocktwits, retail sentiment toward D-Wave improved to ‘bullish’ (68/100) from ‘neutral’ a day ago, with message volume at ‘high’ levels.

qbts-sentiment.png QBTS sentiment and message volume January 14, 2025 | Source: Stocktwits

A retail watcher of D-Wave stock pointed to an analysis that found the stock at oversold levels as a reason to be bullish. Another flagged the current levels as the best bargain one could get.

The stock was last seen trading 7.45% at $4.11, off the day's highs of $4.69.

For updates and corrections, email newsroom[at]stocktwits[dot]com<

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