Analyst raises QBTS target after company outlines gate-based quantum computing expansion to 100 logical qubits by 2032.
Mizuho increased its price target for D-Wave Quantum Inc. (NYSE:QBTS) to $35 from $29, maintaining an Outperform rating. The adjustment follows the company’s first analyst day, where it detailed plans to scale gate-based quantum computing to 10 logical qubits by 2030 and 100 by 2032.
Billionaire investors reduced holdings in QBTS from $95.53 million in Q4 2025 to $39.67 million in Q1 2026, a $55.86 million decline. Despite this, Wall Street firms have grown more bullish, with Rosenblatt reaffirming a Buy rating and $43.00 target after the same event.
D-Wave highlighted its leadership in annealing quantum computing and revenue generation from existing technology while advancing its gate-based systems. The roadmap update reinforced confidence among analysts covering the stock.