{"id":7764,"date":"2026-06-17T15:56:40","date_gmt":"2026-06-17T15:56:40","guid":{"rendered":"https:\/\/www.fintechpulse8.com\/?p=7764"},"modified":"2026-06-17T15:56:40","modified_gmt":"2026-06-17T15:56:40","slug":"mizuho-sees-something-in-qbts-stock-the-market-is-missing","status":"publish","type":"post","link":"https:\/\/www.fintechpulse8.com\/?p=7764","title":{"rendered":"Mizuho sees something in QBTS stock the market is missing"},"content":{"rendered":"

<\/p>\n

2026 has not been the best year for shares in quantum computing darling D-Wave Quantum\u2019s (QBTS).<\/p>\n

The company kept posting engineering wins and a fast-growing order book, yet the stock kept sliding, with a year-to-date decline of 14.9%<\/strong> at the time of writing. <\/p>\n

That disconnect is what Wall Street started to reconsider this week.<\/p>\n

Shares jumped sharply on Monday<\/strong> after a closely followed analyst left D-Wave\u2019s first investor day with a more confident read on the business.<\/p>\n

Why Mizuho raised its D-Wave stock price target to $35<\/h2>\n

Mizuho analyst Vijay Rakesh lifted his D-Wave target to $35 from $29 and kept an Outperform rating, his way of saying he expects the stock to beat the broader market, Investing.com reported. <\/p>\n

The note landed Monday, and QBTS rallied about 13% to close near $26.71. With shares around $23 when the call went out, Rakesh\u2019s $35 target points to roughly 50% upside.<\/p>\n

More Quantum Stocks:<\/strong><\/p>\n

    \n
  • White House makes bold $2 billion bet on quantum stocks<\/strong><\/li>\n
  • IonQ stock spikes on massive quantum announcement<\/strong><\/li>\n
  • Barclays sets eye-catching IBM stock price target<\/strong><\/li>\n<\/ul>\n

    The vote of confidence carries weight because of who made it. Rakesh ranks fourth<\/strong> out of more than 12,300 analysts tracked by TipRanks, with a 73% success rate.<\/p>\n

    He pointed to D-Wave\u2019s lead in annealing and its road map toward fault-tolerant, gate-based machines.<\/p>\n

    \n

    Mizuho sees about 50% upside for D-Wave stock after the company laid out its road map to 2032.<\/p>\n

    Cheng Xin &sol; Getty Images<\/p>\n<\/figcaption><\/figure>\n

    What D-Wave Quantum actually does<\/h2>\n

    D-Wave is the only company selling two kinds of quantum computers.<\/p>\n

    Its older annealing systems<\/strong> are tuned for optimization problems, like finding the cheapest delivery route across thousands of stops. <\/p>\n

    Its newer gate-model systems<\/strong>, added through the Quantum Circuits acquisition, reported by Business Wire, aim at the broad, general-purpose market that rivals chase.<\/p>\n

    At its first investor day, management stretched its road map to 2032 and stuck to a goal of 10 \u201clogical\u201d qubits by 2030 and 100 by 2032. <\/p>\n

    Logical qubits <\/strong>bundle many error-prone physical qubits into one stable, reliable unit, which is what real-world workloads will need<\/strong>.<\/p>\n

    The revenue drop that looks worse than it sounds<\/h2>\n

    The headline number from D-Wave\u2019s first quarter did not look good. Revenue fell 81% <\/strong>from a year earlier to $2.9 million, the company said in its first-quarter results.<\/p>\n

    Here\u2019s what happened<\/strong>: <\/p>\n

    The prior-year quarter booked a one-time $12.6 million sale of a full annealing system, a sale that\u2019s hard to repeat every three months, and did not repeat this quarter. <\/p>\n

    Related: IBM CEO sends strong message on quantum computing<\/strong><\/p>\n

    Hence, the drop in revenue reflects the missing sale, but is not an indication of a shrinking business.<\/p>\n

    The forward-looking numbers did better<\/strong>. <\/p>\n

    Bookings jumped almost 2,000% to a record $33.4 million, backlog climbed 563%, and D-Wave ended the period with $588 million in cash, according to its earnings release.<\/p>\n

    How QBTS stock stacks up against the quantum pack<\/h2>\n

    D-Wave moves with a group of other quantum stocks, so it helps to see where QBTS sits.<\/p>\n

    QBTS versus its peers in 2026:<\/strong><\/p>\n

      \n
    • D-Wave entered this week down about 11% year to date and roughly 50% below its 52-week high of $46.75.<\/li>\n
    • IonQ has been the standout, the only major pure-play holding a positive 2026 return, 24\/7 Wall St. noted.<\/li>\n
    • Rigetti has tracked D-Wave closely as a fellow laggard, while newly public Quantinuum has raised the bar on valuation, The Motley Fool reported.<\/li>\n<\/ul>\n

      The takeaway for readers is that a target hike on one name often lifts the others, which cuts both ways when sentiment turns.<\/p>\n

      What still has to go right for D-Wave to reach $35<\/h2>\n

      Mizuho\u2019s 50% target is a forecast, not a promise, and several things have to line up first before that target becomes a reality.<\/p>\n

      What bulls need to see next:<\/strong><\/p>\n

        \n
      • Bookings turning into recognized revenue<\/strong>, the gap D-Wave still has to close.<\/li>\n
      • Delivery of its planned 17-qubit system<\/strong> this year, an early proof point flagged by The Motley Fool.<\/li>\n
      • Steady progress<\/strong> toward the 2030 and 2032 qubit goals.<\/li>\n
      • A clean read at the next earnings report<\/strong>, due August 6, 2026.<\/li>\n<\/ul>\n

        The risks are also real.<\/p>\n

          \n
        • Valuation<\/strong>: worth more than $9 billion against just $2.9 million in quarterly revenue, so the price already assumes years of growth it hasn\u2019t delivered. <\/li>\n
        • Bigger competitors<\/strong>: IBM and the newly public Quantinuum are better-funded and chasing the same customers. <\/li>\n
        • Wild price swings<\/strong>: routine 10% to 15% single-day moves on no company news. <\/li>\n
        • Policy dependence<\/strong>: the $100 million federal equity stake, reported by CNBC, props up the balance sheet but ties the stock to government decisions D-Wave doesn\u2019t control.<\/li>\n<\/ul>\n

          The bottom line for QBTS investors<\/h2>\n

          The bull case<\/strong> rests on a record order book, a deep cash pile, and a top-ranked analyst who believes the market is underpricing D-Wave\u2019s roadmap. <\/p>\n

          Wall Street\u2019s average rating is still a \u201cStrong Buy,\u201d according to StockAnalysis.<\/p>\n

          The bear case<\/strong> is that the company earns very little today and trades on hopes for the 2030s.<\/p>\n

          Mizuho\u2019s call does not give assurances, but it does raise the stakes into the next earnings report.<\/p>\n

          The practical move is to watch whether bookings start converting into sales.<\/p>\n

          Related: Mizuho just rerated these 3 AI winners<\/strong><\/p>\n

          #Mizuho #sees #QBTS #stock #market #missing<\/p>\n","protected":false},"excerpt":{"rendered":"

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