QBTS shares rallied sharply in morning trading, jumping 11.5% to $26.07 after Mizuho Securities analyst Vijay Rakesh raised his price target from $29 to $35 and kept an Outperform rating on the stock. The analyst action was directly linked to D-Wave Quantum’s first-ever Analyst Day, held June 1 at the New York Stock Exchange, where the company presented an expanded strategic roadmap.
At the event, management described a dual-platform approach that retains its established annealing systems while introducing a push into gate-based quantum computing. The company presented a total addressable market estimate of $450–850 billion tied to that strategy. Those public targets gave analysts concrete milestones to use when assessing the company’s growth trajectory.
Following the Analyst Day, other firms on the street supported the bullish view. Rosenblatt Securities and Stifel both maintained Buy ratings, with respective price targets of $43 and $35. Collectively, that analyst reinforcement contributed to what was described as a broad Wall Street consensus of Strong Buy across the coverage universe.
The company’s updated technical roadmap included specific system and logical-qubit milestones: 17-qubit and 49-qubit systems expected in 2026–2027, scaling to 10 logical qubits by 2030 and 100 logical qubits by 2032. Analysts cited those milestones as key anchors for their positive forecasts.
The quantum computing sector has also seen renewed investor interest recently. The Nasdaq listing of Quantinuum generated enthusiasm that spilled over to peer stocks, including QBTS, providing an additional sector-level catalyst.
Broader market moves on the day created a favorable backdrop. The Nasdaq rose about 2.5%, the S&P 500 advanced roughly 1.6%, and the Dow Jones added around 1.3% in a risk-on session that tended to benefit high-growth technology and emerging-technology names. That macro push amplified the company-specific news, helping QBTS reach an intraday high of $26.85 during the trading session.
Taken together, the combination of a prominent analyst price-target increase from a well-known technology analyst, a detailed and well-received corporate roadmap presented at the firm’s first Analyst Day, continued buy-side support from other brokerages, and a strongly positive market environment produced the double-digit move in QBTS shares.
Clear summary: QBTS jumped after Mizuho raised its target and D-Wave unveiled a dual-platform quantum roadmap on June 1 at the NYSE; additional Buy ratings and a positive market session helped propel the stock to an intraday peak of $26.85.