D-Wave Quantum Inc. (NYSE: QBTS) is drawing significant bullish attention from Wall Street analysts, who see more than 99% upside from current price levels over the next 12 months.
The optimism comes even as QBTS shares have fallen 15.6% over the past month, making the projected gains all the more striking to investors watching the quantum computing sector.
A key driver behind analyst confidence is an extraordinary 2000% year-over-year surge in quarterly bookings, a figure that has turned heads across the investment community.
Several analyst firms have raised their price targets on the stock within the past month, reflecting a growing consensus that the selloff presents a buying opportunity.
Mizuho was among the most notable, raising its price target on QBTS from $29 to $35 on June 15, while maintaining an Outperform rating on the shares.
That upgraded target followed D-Wave’s first-ever Analyst Day presentation, during which the company laid out an ambitious long-term technology and financial roadmap.
Mizuho noted that D-Wave’s annealing and superconducting roadmap targets a quantum computing total addressable market of roughly $450 billion to $850 billion by 2040.
Analysts further highlighted that gate-based quantum computing could add another 75% to that market opportunity on top of the annealing segment alone.
During the Analyst Day presentation, the company showcased quantum error correction cycle times under 5 microseconds, with scaling that outperforms competing approaches in the field.
D-Wave also updated its long-term financial targets, projecting gross margins of 65% to 75% for Quantum Computing as a Service offerings.
The company expects gross margins of 40% to 50% for Professional Services and a notably higher 75% to 90% for its Computing Systems segment.
D-Wave Quantum Inc. is engaged in the development and delivery of quantum computing systems, software, and services through its NYSE-listed shares.
With quantum computing total addressable market projections reaching into the hundreds of billions, QBTS remains one of the more closely watched names in the emerging technology space heading into the second half of 2026.
