Piper Sandler Raises PT on D-Wave Quantum Inc. (QBTS) to $22; Maintains 'Overweight' Rating

With significant upside potential, D-Wave Quantum Inc. (NYSE:QBTS) secures a spot on our list of the 12 Best Quantum Computing Stocks to Buy According to Wall Street Analysts.

On August 8, 2025, Piper Sandler raised its price target for D-Wave Quantum Inc. (NYSE:QBTS) to $22 from $13, keeping its Overweight rating. The company reported better-than-expected June quarter earnings, helped by increased traction for its Advantage2 technology.

Piper Sandler also emphasized D-Wave’s growing cooperation with commercial and government stakeholders, stating that the customer base remains above 100. Aside from its annealing-based systems, D-Wave Quantum Inc. (NYSE:QBTS) is developing a gate-model system to address hard challenges in quantum chemistry and 3D fluid dynamics. The research firm called the company’s progress “strong execution” and emphasized that D-Wave’s momentum warrants the significant upward revision in its price target.

D-Wave Quantum Inc. (NYSE:QBTS) creates and supplies quantum computing hardware, software, and cloud services that help businesses and governments tackle optimization, logistics, and advanced scientific problems. It is one of the Best Quantum Computing Stocks.

While we acknowledge the potential of QBTS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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