D-Wave Quantum's Fast Anneal To Boost Quantum Processing And Drive Customer Growth, Analysts Say
Portfolio Pulse from Anusuya Lahiri
D-Wave Quantum Inc (QBTS) receives positive analyst coverage with a focus on its fast anneal technology, which accelerates quantum processing speeds. Needham, Benchmark, and Piper Sandler analysts reiterate Buy or Overweight ratings with price targets ranging from $2.50 to $4. Despite reporting lower-than-expected revenues for the quarter at $2.5 million, the company shows strong year-over-year bookings growth and technological advancements, including the development of a 4,800+ qubit processor for its upcoming Advantage2 system.
May 14, 2024 | 6:54 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
D-Wave Quantum Inc is positively reviewed by analysts from Needham, Benchmark, and Piper Sandler, highlighting its fast anneal technology and strong bookings growth. Despite a quarterly revenue miss, the company's technological advancements and strategic partnerships, such as with USC, are emphasized. Price targets suggest a bullish outlook.
The positive analyst coverage, highlighting technological advancements and strong bookings growth, suggests a bullish outlook for QBTS. The emphasis on fast anneal technology and strategic partnerships, along with the setting of optimistic price targets, indicates potential for short-term price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100