Wall Street Analysts Say This Quantum Computing Stock Could Soar 92% in 2026 | The Motley Fool

Advancements in the technologies used for quantum computing over the last few years have led investors to pour billions into a handful of companies developing quantum computers. That's particularly benefited pure-play quantum computing stocks like Rigetti Computing ( RGTI +14.14%) and D-Wave Quantum ( QBTS +19.76%). Even after strong performances in 2025, analysts remain optimistic about the stocks in 2026. One of those stocks appears particularly interesting at the moment, with Wall Street analysts' price targets suggesting upside of as much as 92% in 2026. All 14 analysts covering the stock rate it a buy, which makes D-Wave Quantum the quantum computing stock to watch in 2026. Image source: Getty Images. A differentiated approach to quantum computing There are two core approaches to building a quantum computer: gate-based and quantum annealing. Gate-based quantum computers, like those designed by Rigetti, solve precise problems that require precise answers. If you want to break an encryption, for example, a gate-based quantum computer can theoretically do that for you. The big problem with gate-based quantum computers is that they're prone to errors. As you add more gates, the error challenge grows exponentially. Improvements in error correction are supporting continued scaling of these computers, but they still aren't big enough to handle real-world applications. As a result, companies building gate-based technology are highly speculative. If they can crack the technology needed to scale, they could develop general-purpose quantum computers that can displace inferior technology. That's a huge payoff, but it also carries a huge risk. D-Wave's approach is called quantum annealing. It's not as accurate as gate-based quantum chips, but it can be useful for optimization problems where a "close-enough" solution is still very valuable. Everything from resource optimization to logistics routing, to material engineering, to drug discovery can benefit from D-Wave's quantum computers. Importantly, D-Wave's solution isn't as prone to errors as gate-based solutions, and it's more power-efficient. That makes it immediately applicable and accessible for many businesses. As a result, D-Wave already counts over 100 customers. NYSE: QBTS Key Data Points 2025's momentum could carry into 2026 D-Wave's revenue growth flatlined in 2024, but the release of its Advantage2 system in 2025 spurred a huge step up in revenue. Sales are up 235% through the first nine months of the year, reaching $21.8 million. Analysts currently expect D-Wave's full-year revenue to reach $25.5 million while climbing to $39.5 million in 2026. That growth will be supported by a strong sales pipeline, which has seen larger average deal sizes in 2025 compared to prior years. It booked a high-six-figure deal with an international airline, for example, and a multiyear 10 million euro deal to build a new research facility in Europe. That said, D-Wave continues to generate losses every quarter. Its adjusted EBITDA loss through the first nine months of the year expanded 15% despite the rising sales. The company is investing heavily in research and development to advance its technology and expand its applications. Sales and marketing expenses have also increased in line...

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