Analyst sees doubling potential for D-Wave shares – despite current weakness

• Needham reiterates “Buy” rating on D-Wave Quantum with high price target
• Quantum Circuits purchase could catapult D-Wave forward
• Quantum computers with tens of thousands of qubits ahead?

In an analysis published on January 22, 2026, Needham analyst Quinn Bolton reiterated his positive view on D-Wave Quantum shares. The expert’s “Buy” rating remains unchanged and his price target for the stock from the quantum computing industry remains at $48, thus certifying that the share has an upside potential of a whopping 138.69 percent based on the last closing price on the NYSE at $20.97 (as of: closing price on February 2, 2026). According to “TipRanks”, his price target is also the highest among analysts’ current targets, which on average are $40.38 (as of February 3, 2026).

Acquisition of Quantum Circuits gives analysts confidence

Despite the recent sharp setbacks in D-Wave’s share price – the share has fallen by 23.12 percent since the beginning of the year (as of the closing price on February 4, 2026) – Bolton is sticking to his optimistic assessment. He relies primarily on the long-term growth prospects of the quantum computing company. Bolton particularly highlighted the potential resulting from established applications of D-Wave’s quantum annealing technology and the upcoming expansion of gate model systems.

In this context, according to “TipRanks”, the analyst sees the acquisition of Quantum Circuits by D-Wave, which was successfully completed in January, as strategically favorable and emphasized that it could give the company a decisive competitive advantage over competitors such as Rigetti or IonQ: By integrating Quantum Circuits’ error-correcting, superconducting gate model technology in combination with D-Wave’s existing annealing platform, D-Wave is not only expanding its technology base, but also accelerate the path to more powerful, error-corrected gate model quantum computers. Bolton expects Quantum Circuits’ dual-rail qubits, coupled with D-Wave’s cooling systems, to pave the way for quantum computers with five-digit qubit numbers, according to TipRanks. In his opinion, this technological integration could significantly reduce existing breaks between annealing and gate model architectures. This should significantly speed up development processes, the coordination of software and hardware, and practical use by customers, which ultimately strengthens the share’s investment narrative. In addition, according to the analyst, this dual-platform strategy should significantly increase the market potential addressable by D-Wave and put D-Wave in a better position to compete with other quantum computing providers.

In addition, Bolton’s confidence also comes from D-Wave’s ability to not only develop specialized quantum computer systems, but also to commercialize them – an area in which the company is one of the few serious players. This combination of technological development and growing demand for quantum solutions supports his bullish forecast.

Other analysts also remain optimistic

Although the D-Wave Quantum share recently did not perform as strongly as it did in 2025, many analysts continue to see positive signals and remain optimistic: According to data from “TipRanks”, all 13 analysis firms listed there currently have given the stock a “buy” rating. Overall, the analyst estimates result in a “Strong Buy” consensus and even the lowest price target of $35 is still well above the current price of D-Wave shares (as of February 4, 2026).

Editorial team finanzen.net

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