D-Wave Quantum Inc. (NYSE:QBTS) stock rose in Thursday’s premarket trading as investors continued to favor higher-risk growth stocks. Nasdaq futures rose 1.62%, while S&P 500 futures gained 0.71%.

The stock continues to draw investor interest following a series of positive catalysts, even though no new company-specific announcement emerged on Thursday.

The stock has gained support after Mizuho Securities raised its price forecast to $35 from $29 while maintaining its Outperform rating..

Investor sentiment also strengthened after D-Wave unveiled its long-term technology roadmap, targeting 100 logical qubits by 2032. The roadmap reinforced confidence in the company’s dual-platform strategy, which combines annealing and gate-model quantum computing systems.

Optimism has also remained elevated since the U.S. Department of Commerce issued a non-binding letter of intent proposing up to $100 million in funding under the CHIPS and Science Act. The proposed funding would support the development and commercialization of D-Wave’s quantum computing systems.

Thursday’s premarket trading also reflected the broader risk-on tone across technology stocks. Nasdaq futures rose 1.62%, outpacing the S&P 500’s 0.71% gain. That backdrop could continue to support speculative growth names such as D-Wave, although the stock will likely need to reclaim key technical levels to improve its short-term chart.

Gate-Model Roadmap Advances

Separately, D-Wave on Thursday introduced what it said is the world’s first gate-model quantum computing simulator designed for error-aware programming, marking another step in its gate-model quantum computing roadmap.

Built on the company’s dual-rail technology, the simulator is designed to help developers model quantum processor behavior, detect errors, prototype quantum applications and test error-correction workflows before D-Wave’s gate-model systems become available.

The simulator is scheduled to launch on D-Wave’s Leap cloud platform in September 2026. It will support up to 21 qubits, hardware and ideal emulation modes, Monte Carlo simulation of quantum system dynamics and integration with the Ocean software development kit.

D-Wave also introduced Starter and Premium quantum development bundles that will provide simulator access, monthly usage allocations and technical support. Pricing is available upon request.

Technical Analysis

D-Wave Quantum traded at $23.75, about 8.8% below its 20-day simple moving average (SMA) of $26.02. That suggests recent momentum has cooled. However, the stock remains 6.5% above its 50-day SMA of $22.28 and 16.9% above its 100-day SMA of $20.32, indicating the intermediate-term trend remains intact.

The technical picture is mixed. The 20-day SMA remains above the 50-day SMA, a bullish short-term signal. However, the 50-day SMA remains below the 200-day SMA following a death cross that formed in March. That longer-term bearish signal could continue to weigh on sentiment.

The relative strength index (RSI) stands at 47.25, a neutral reading that suggests the stock is neither overbought nor oversold. Instead, it points to consolidation rather than a fresh momentum breakout.

The next key resistance level is near $25.00. That area also aligns with the 20-day exponential moving average of $24.62. Initial support sits near $22.50, just above the 50-day SMA, where buyers may attempt to defend the broader uptrend.

Earnings and Analyst Outlook

The company’s next earnings report is expected on Aug. 6.

Wall Street expects D-Wave Quantum to report a loss of 10 cents per share, compared with a loss of 8 cents per share a year earlier. Revenue is projected to increase to $4.04 million from $3.10 million.

The stock carries a consensus Buy rating with an average analyst price forecast of $39.56. Recent analyst actions include:

  • Mizuho maintained its Outperform rating and raised its price forecast to $35 from $29 on June 15.
  • Rosenblatt maintained its Buy rating and $43 price forecast on June 11.
  • B. Riley Securities maintained its Buy rating and raised its price forecast to $40 on June 2.

Top ETF Exposure

D-Wave Quantum has meaningful exposure in several exchange-traded funds:

  • SPDR S&P Software & Services ETF (NYSE:XSW): 1.14% Weight
  • WisdomTree Quantum Computing Fund ETF (NASDAQ:WQTM): 4.44% Weight
  • Tradr 2X Long QBTS Daily ETF (NASDAQ:QBTX): 198.58% Weight

Because QBTS represents a significant portion of these funds, large ETF inflows or outflows could create additional buying or selling pressure in the stock.

Price Action

QBTS Stock Price Activity: D-Wave Quantum shares were trading up 3.62% at $23.75 during premarket trading on Thursday, according to Benzinga Pro data.

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