D-Wave Quantum (QBTS) Set for Potential Upswing Amid Strong Analyst Consensus and Market Catalysts

Technical Analysis

D-Wave Quantum Inc. (QBTS) closed at $15.65 on June 20, 2025, slightly down by 0.38%. The stock traded within a relatively narrow intraday range of $15.48 to $16.15, testing resistance near $16.56 while holding above support at $15.36. The 14-day RSI at 47 suggests a neutral momentum without clear overbought or oversold conditions. Key moving averages provide bullish signals: the 50-day MA stands at $12.03 and the 200-day MA at $6.28, both well below the current price, indicating upward trending support and strong relative strength over intermediate and long-term horizons. The MACD reading at 1.86 confirms positive momentum gained over the past three months, consistent with the recent price surge. The ATR is elevated at 9.36, reflecting pronounced price volatility, which warrants a prudent approach to stop-loss placement near $15.12.

Short-term, QBTS faces resistance at $16.56, with solid intraday support at $15.36. The expected price action on June 23, 2025, is likely range-bound, potentially edging higher if volume resumes near or above the average of 66.93 million shares. Given the consolidation phase and the healthy technical backdrop, a modest rebound toward recent highs could unfold in the next trading session and continued strength is plausible through the upcoming week, barring broader market disruptions.

Fundamental Analysis

QBTS carries a market capitalization of approximately $4.84 billion. The trailing twelve months (TTM) earnings per share (EPS) remain negative at -$0.66, with an unprofitable price-to-earnings ratio of -23.71, reflecting ongoing investment and operational scaling rather than profitability. The discounted cash flow (DCF) model yields a negative intrinsic value estimate (-$0.30), characteristic of a high-growth, capital-intensive technology stock still seeking to generate positive free cash flow.

Recent fundamental catalysts include significant global expansion via strategic partnerships spanning South Korea to Germany, substantially boosting revenue potential and validating the firm’s competitive technology position in quantum computing. The broader market consensus supports a bullish outlook, with eight analyst buys and unanimous price targets converging at $20, indicating about 28% upside relative to the current price. The upcoming earnings announcement on August 14, 2025, will be a critical inflection point for reaffirming revenue growth and operational scalability.

Quantum computing is acknowledged as a nascent and transformative market with substantial long-term potential. D-Wave’s technical advancements and growing international footprint position it favorably to capitalize on the impending industry growth cycle, although the current unprofitability and elevated valuation multiples imply elevated risk and execution dependency.

Intrinsic Value and Long-Term Outlook

The present DCF analysis suggests the intrinsic value is below market price, primarily due to the company’s early-stage financial profile and lack of positive cash flow. However, the intrinsic value metric for disruptive technology firms often undervalues future growth prospects and technological moat. The growing order book and strategic deal flow imply potential material revenue acceleration and margin improvement in the medium to long term. As such, the intrinsic valuation can be expected to improve considerably if D-Wave successfully executes on growth initiatives and attains economies of scale.

Long-term investment potential is supported by quantum computing’s disruptive trajectory and D-Wave’s established market presence. Nevertheless, sustained patience is warranted given the unprofitable status, execution risks, and competitive dynamics inherent in this emerging sector.

Overall Evaluation

QBTS emerges as a “Buy” candidate based on robust technical trends, strong analyst buying consensus, and significant revenue growth catalysts. The current valuation incorporates growth expectations consistent with a stock nearing an all-time high but the downside risk remains tethered to operational execution and profitability path uncertainty. Near-term price appreciation toward the $20 price target appears attainable, driven by expanding global contracts and positive industry sentiment. Investors adopting a medium to long-term horizon may find QBTS attractive for exposure to quantum computing innovation, albeit with caution due to elevated volatility and fundamental risk factors.