D-Wave Quantum Posts $310M Volume Drop to 311th Market Rank as Piper Sandler Raises Target to $22 Amid 1,462% Trailing Return

On August 29, 2025, D-Wave Quantum (QBTS) traded with a volume of $0.31 billion, a 39.83% decline from the previous day, ranking 311th in market activity. The stock closed down 1.88% at $15.61.

Piper Sandler raised its price target for QBTS to $22 from $13, maintaining an Overweight rating. The firm highlighted the company’s improved June quarter earnings, driven by growing adoption of its Advantage2 technology and over 100 active customers. D-Wave is also advancing a gate-model quantum system to address complex challenges in quantum chemistry and 3D fluid dynamics, signaling strong execution and momentum. Analysts cited the company’s hybrid quantum-classical solutions and strategic partnerships as key catalysts for its revised outlook.

Backtest results showed QBTS outperformed the S&P 500 over 12 months, with a total return of 85.95% year-to-date compared to the index’s 9.84%. The stock’s 12-month trailing return reached 1,462.00%, underscoring its volatility and speculative appeal in the quantum computing sector.