D-Wave Quantum (NYSE:QBTS) Shares Gap Up - Still a Buy?

Key Points

• Gapped up: QBTS jumped premarket — it closed at $16.97, opened at $18.53 and last traded around $19.32 on heavy volume (~21.2M shares), signaling strong intraday buying interest.
• Positive catalysts include NVIDIA’s open-source quantum AI models, D‑Wave’s reported 2025 revenue growth and gross margins, and the Quantum Circuits acquisition plus a dual‑platform roadmap that analysts say could boost 2026 bookings.
• Risks remain: the stock carries high valuation vs. fundamentals, recent insider selling, negative earnings and mixed analyst views (consensus PT $36.50 but ratings split), any execution miss could cap upside.

Shares of D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $16.97, but opened at $18.53. D-Wave Quantum shares last traded at $19.3210, with a volume of 21,203,445 shares trading hands.

More D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: Broad sector catalyst — NVIDIA’s release of open-source quantum AI/Ising models is being treated as a practical accelerant for quantum hardware adoption, validating the market and boosting demand expectations for vendors like D‑Wave. Quantum stocks surge as Nvidia launches new AI models
• Positive Sentiment: Operational momentum — Investors are reacting to D‑Wave’s reported 2025 revenue growth, strong gross margins, and management commentary about accelerating bookings and pipeline conversion, which underpin a narrative of commercial traction. D-Wave Quantum jumps 15.9% as investors refocus on recent bookings, results, and its dual-platform push
• Positive Sentiment: Strategic execution — The Quantum Circuits acquisition (gate-model tech) and D‑Wave’s dual-platform roadmap (annealing + gate) are cited as concrete catalysts for future product releases and 2026 bookings upside. QBTS Builds Early 2026 Momentum on Bookings, Deals and Acquisition
• Positive Sentiment: Event-driven interest — Short-term flows tied to a CEO summit and upbeat coverage amplified momentum, producing strong intraday moves as traders chase the narrative. D-Wave Quantum (QBTS) Surges Nearly 13% on CEO Summit Anticipation
• Positive Sentiment: Sentiment reset — Recent commentary and analyst pieces argue that “sanity” has returned to the story as execution begins to match the long-term bull case, helping re-rate the stock after prior volatility. D-Wave Quantum: Sanity Returns
• Neutral Sentiment: Analyst/coverage pieces are debating whether recent bookings and product launches will translate to sustainable 2026 revenue — useful context for investors but not a direct, immediate driver on its own. Should D-Wave’s Push Into Real-World Quantum Use Cases and 2026 Bookings Shape QBTS Investors’ View?
• Negative Sentiment: Valuation and governance cautions — Some analysts warn that QBTS still carries an extreme valuation relative to fundamentals and note heavy insider selling in recent months, risks that could cap upside if bookings or execution disappoint. D-Wave Quantum: Extreme Valuation Meets Execution Reality

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $43.00 price target on shares of D-Wave Quantum in a report on Wednesday, January 28th. Canaccord Genuity Group set a $43.00 price target on D-Wave Quantum in a report on Thursday, January 29th. Wedbush began coverage on D-Wave Quantum in a report on Wednesday, December 17th. They set an "outperform" rating and a $35.00 price target for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of D-Wave Quantum in a research note on Friday, March 27th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

D-Wave Quantum Price Performance

The company has a 50 day moving average price of $17.32 and a 200 day moving average price of $24.46. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -18.28 and a beta of 1.78. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The firm had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum's quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the sale, the director directly owned 27,778 shares of the company's stock, valued at $489,448.36. The trade was a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Markovich sold 10,706 shares of D-Wave Quantum stock in a transaction on Friday, March 13th. The stock was sold at an average price of $17.63, for a total value of $188,746.78. Following the sale, the chief financial officer directly owned 1,451,427 shares of the company's stock, valued at approximately $25,588,658.01. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,706 shares of company stock valued at $509,027 over the last three months. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its stake in shares of D-Wave Quantum by 78.0% during the fourth quarter. Hsbc Holdings PLC now owns 17,182 shares of the company's stock worth $452,000 after purchasing an additional 7,530 shares during the period. World Investment Advisors lifted its holdings in D-Wave Quantum by 195.7% during the fourth quarter. World Investment Advisors now owns 41,691 shares of the company's stock worth $1,090,000 after acquiring an additional 27,592 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in D-Wave Quantum by 25.8% during the fourth quarter. Corient Private Wealth LLC now owns 30,797 shares of the company's stock worth $805,000 after acquiring an additional 6,319 shares in the last quarter. Tulsa Wealth Advisors INC bought a new position in D-Wave Quantum during the fourth quarter worth about $248,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in D-Wave Quantum by 16.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 111,923 shares of the company's stock worth $2,927,000 after acquiring an additional 15,675 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Company Profile

D-Wave Quantum Inc NYSE: QBTS develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company's product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.

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