Aaron McDade
2 min read
Credit: Cheng Xin / Getty Images
Key Takeaways
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Quantum computing stocks rallied, led by D-Wave, after analysts raised their price target for D-Wave's stock in the wake of its first analyst day earlier this month.
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It's not the first time that good news for one quantum stock has ended up powering notable moves across the sector.
An upbeat outlook on a quantum-computing stock lifted the sector Monday.
D-Wave Quantum (QBTS) shares soared 15% to $27, leading a group of peers higher after analysts from Mizuho raised their price target for the stock to $35 from $29, keeping their "overweight" rating following the firm's first analyst day earlier this month. The analysts said they see D-Wave "maintaining leadership" in one of the two main methods of quantum computing, while also "delivering a roadmap" to the other method, making it a "dual-platform" company.
Good news for one quantum stock can often lead to gains for the broader sector. That was the case back in April, when the announcement of new AI models from Nvidia (NVDA) aimed at the industry sent shares surging. Last month, the stocks were boosted by news that the Trump administration would take stakes in several public and private quantum computing firms as part of handing out funding from the CHIPS Act passed by the Biden administration.
Why This Matters to Investors
The new price target could serve as a positive sign to investors that more gains could be ahead for the quantum computing sector.
Fellow stocks in the industry popped alongside D-Wave today. Quantum Computing (QUBT) was up 15%, while Rigetti Computing (RGTI) and IonQ (IONQ) jumped 11% and 9%, respectively.
While all four stocks are now in positive territory for the year, they are off last October's highs set when investors were increasingly betting on the long-term potential of the industry.
Monday's gains put D-Wave back into positive territory for 2026. Its rivals are up anywhere from 5% to 40% since the start of the year.
Read Investopedia's full coverage of today's trading here.
Credit: IonQ has led the quantum industry's gains this year.
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