D-Wave Quantum’s stock price has surged in the last year, with a Wall Street analyst raising their price target for the company. Shares are up 10.5% as of 2:50 p.m. ET, riding the momentum of the broader quantum market.

An analyst at B. Riley Financial increased D-Wave’s price target from $20 to $22, showing confidence in the company’s potential. The quantum industry has seen a surge in interest, with D-Wave’s stock up nearly 1,700% in the last year.

Despite the hype around quantum computing, investors should be cautious. D-Wave’s market capitalization of over $6 billion far exceeds its 2024 revenue of less than $9 million. The technology is still in its early days and may not generate significant revenue for a long time.

Consider the risks before investing $1,000 in D-Wave Quantum. The Motley Fool’s Stock Advisor team has identified 10 stocks with potential for greater returns. Past recommendations like Netflix and Nvidia have seen substantial growth, outperforming the S&P 500. Join Stock Advisor for the latest top picks.

Read more at Nasdaq: Why D-Wave Quantum Stock Is Soaring Today