D-Wave Quantum (QBTS): Needham Reiterates Buy Rating with PT of $48

D-Wave Quantum Inc. (NYSE:QBTS) is one of the High-Flying Stocks to Buy Right Now. On January 22, Needham’s analyst, Quinn Bolton, reiterated a “Buy” rating with the price objective of $48. The analyst noted the company’s competitive edge in the broader quantum computing landscape, thanks to the acquisition of Quantum Circuits.

Notably, the firm’s analyst expects that Quantum Circuits’ dual-rail qubits and D-Wave Quantum Inc. (NYSE:QBTS)’s cooling systems are expected to help build quantum computers with thousands of qubits.

On January 20, D-Wave Quantum Inc. (NYSE:QBTS) announced the completion of its acquisition of Quantum Circuits Inc. This cements D-Wave Quantum Inc. (NYSE:QBTS)’s position as the first and only dual-platform quantum computing company worldwide, which builds annealing as well as gate-model quantum computing systems. These are built to cater to the full range of customers’ complex computational problems.

D-Wave Quantum Inc. (NYSE:QBTS) added that it has been helping the industry by delivering best-in-class annealing and gate-model technologies.

D-Wave Quantum Inc. (NYSE:QBTS) develops and delivers quantum computing systems, software, and services.

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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Disclosure: None. This article is originally published at Insider Monkey.