D-Wave Quantum Surged Today -- Is the Stock a Buy Right Now?

Key Points

• D-Wave Quantum stock jumped today thanks to bullish analyst coverage from B. Riley and Canaccord.

• Canaccord initiated coverage with a buy rating a one-year price target of $20 per share, and B. Riley kept a buy rating and raised its price target from $20 per share to $22 per share.

• D-Wave Quantum is a high-risk stock, but it could deliver explosive returns if the business continues to score wins in the quantum computing space.

• 10 stocks we like better than D-Wave Quantum ›

D-Wave Quantum (NYSE: QBTS) stock is soaring higher in Wednesday's trading thanks to bullish analyst coverage. The quantum-computing company's share price closed out the daily session up 15.6%.

D-Wave's valuation is seeing another big jump today thanks to new coverage from analysts at B. Riley and Canaccord. The quantum specialist's share price is now up more than 140% year to date.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

Canaccord published a report early this morning initiating coverage on D-Wave Quantum with a buy rating and a one-year price target of $20 per share. Soon after, B. Riley also published new coverage on the stock -- maintaining a buy rating and raising its one-year price target from $20 per share to $22 per share.

Image source: Getty Images.

Is D-Wave Quantum stock a buy right now?

Quantum computing stocks have been incredibly hot in recent months. Some significant technology breakthroughs and bullish comments from tech luminaries including Nvidia CEO Jensen Huang have helped power huge rallies for many players in the space. Expectations that the Federal Reserve will cut interest rates multiple times this year and create a more favorable backdrop for growth stocks have also contributed to valuation rallies in the category.

Advances in quantum computing technologies could power huge leaps forward in artificial intelligence (AI) and other high-value tech categories, and D-Wave seems to be establishing itself as an early front-runner in the space. On the other hand, quantum computing is still a nascent technology -- and charting how progression and competitive dynamics in the space will play out involves a very high degree of guesswork. Risk-tolerant investors seeking exposure to the quantum trend could find D-Wave Quantum stock to be a worthwhile portfolio addition, but the potential for downside volatility in the near term has also increased on the heels of the recent rally.

Should you invest $1,000 in D-Wave Quantum right now?

Before you buy stock in D-Wave Quantum, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and D-Wave Quantum wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,023,813!*

Now, it’s worth noting Stock Advisor’s total average return is 1,034% — a market-crushing outperformance compared to 180% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of July 21, 2025

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.