D-Wave Quantum Stock Surges After Wedbush Initiates Coverage With Outperform Rating
On July 27, D-Wave Quantum (NASDAQ: QBTS) saw its stock rise by over 10% after investment bank Wedbush initiated coverage with an 'outperform' rating and a $40 price target. Despite the company's lack of profitability—reporting just $12.4 million in revenue over the past year—Wedbush emphasized that quantum computing firms are evaluated based on technological milestones rather than traditional financial metrics like profit or revenue. The firm believes D-Wave can eventually transition from a capital-intensive venture into an efficient and scalable business, supported by government grants and commercial clients. Analysts forecast significant growth in 2026 with revenues expected to more than triple to $42 million, though losses are still projected at over $138 million that year.
Tickers: $QBTS
Topics: coverage initiation investment banking quantum computing