We recently published 10 Stocks With Eye-Popping Double-Digit Gains. D-Wave Quantum Inc. (NYSE:QBTS) is one of the biggest performers on Wednesday.
D-Wave snapped a three-day losing streak on Wednesday, jumping 15.41 percent to close at $20.30 apiece following two investment firms’ bullish ratings and price target upgrades for the company.
In its market note, Canaccord gave D-Wave Quantum Inc. (NYSE:QBTS) a “buy” recommendation with a price target of $20 apiece.
Shortly after, investment firm B. Riley echoed the view, giving the quantum stock a “buy” recommendation but with a higher price target of $22 apiece, despite expecting to report $2 million in revenues and lower earnings per share of $0.07 for the current quarter, as against the consensus $2.54 million and $0.08 per share.
Last week, D-Wave Quantum Inc. (NYSE:QBTS) also received a bullish comment from Mad Money host and former hedge fund manager Jim Cramer, advising a caller to own shares in the company.
“[In just] one headline, one little story, that stock goes up 10 more points…and D-Wave has the ability to do that because it is actually a real company,” he said.
While we acknowledge the potential of QBTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.