Why D-Wave Quantum Stock Surged 15.4% Last Month and Is Rocketing Higher in 2026

D-Wave Quantum (NYSE: QBTS) stock managed to post double-digit gains in December's trading despite some volatility for growth stocks. The quantum computing company's share price rose 15.4% in the month, according to data from S&P Global Market Intelligence.

D-Wave stock saw valuation gains in conjunction with project news and bullish coverage from analysts. Bullish momentum for the tech specialist has continued into 2026's trading.

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D-Wave stock saw solid bullish momentum in December

D-Wave started last month's trading with a bang. The company announced on Dec. 2 that it had formed a U.S. government business unit. With interest in defense-tech companies on the rise recently, the formation of D-Wave's new segment highlighted the potential for government contracts to turn into a powerful long-term sales driver.

Mizuho initiated coverage on D-Wave on Dec. 11, giving the stock an outperform rating and setting a one-year price target of $46 per share. Mizuho's analysts cited D-Wave's strengths in quantum-annealing technologies and room for growth through acquisitions and the pursuit of other quantum methodologies as reasons for its bullish coverage.

Jefferies followed up with its coverage initiation on Dec. 16 and gave the stock a buy rating. The firm's analysts think that rising demand for quantum-computing technologies will benefit D-Wave and see the company's Advantage2 being a key near-term performance driver.

D-Wave stock is staying hot in 2026

D-Wave stock has continued climbing in January and is up 10% in the month as of this writing. In addition to bullish momentum for growth stocks, the company's share price has risen in conjunction with new tech announcements and positive coverage from analysts.

D-Wave published a press release on Jan. 6 announcing that it had achieved a new breakthrough in scalable on-chip cryogenic control of qubits. The development suggests that the cryogenic control technologies used for its annealing approach to quantum computing could have other useful applications for other quantum-computing methodologies. The next day, the company announced that it was acquiring Quantum Circuits in a $550 million deal. The acquisition is expected to close later this month.

Following the technology and acquisition news, Rosenblatt published new coverage on D-Wave. The investment firm reiterated a buy rating on the stock and increased its one-year price target to $43 per share -- up from its previous target of $40 per share.

Rosenblatt's analysts think that the acquisition of Quantum Circuits was a strong move and will help D-Wave to sustain superior error-correction performance compared to its competitors. The analysts also see D-Wave's recent cryogenic chip-control breakthroughs as a major positive catalyst.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.