D-Wave Quantum (NYSE:QBTS) Stock Price Up 3.4% - Still a Buy?

Key Points

• D-Wave's stock rose 3.4% to about $21.52 on Thursday, trading roughly 89.3 million shares (≈199% above average) as investors piled into the quantum theme — boosted by an Nvidia-related catalyst, heavy call-option activity, and anticipation around a CEO summit.
• Despite short-term momentum and a consensus "Moderate Buy" from analysts (14 Buys, 2 Sells; $36.50 target), the company remains unprofitable after missing quarterly EPS and revenue estimates and reporting extremely negative net margin and ROE, creating valuation and execution risk if the rally fades.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s stock price rose 3.4% on Thursday . The company traded as high as $22.47 and last traded at $21.5160. Approximately 89,304,461 shares traded hands during mid-day trading, an increase of 199% from the average daily volume of 29,860,930 shares. The stock had previously closed at $20.81.

D-Wave Quantum News Roundup

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

• Positive Sentiment: Nvidia catalyst: Nvidia’s launch of quantum-capable AI models and related products is being interpreted as a broad accelerator for quantum companies, boosting investor enthusiasm for D-Wave. D-Wave Quantum (QBTS) Soars 22% on Nvidia Quantum Support
• Positive Sentiment: Broad sector rally and thematic flows: Quantum names have rallied for multiple sessions as investors pile into the theme (including concerns about quantum threats to crypto), which is lifting QBTS along with peers. Quantum Computing's Crypto Threat Is Getting Real—and Investors Are Piling In
• Positive Sentiment: Heavy bullish options activity: Unusually large call buying (roughly 109,771 calls traded on 4/15) signals aggressive short-term bullish speculation and hedged positioning by traders. Article reference: options volume report
• Positive Sentiment: Event-driven interest: Anticipation around a D‑Wave CEO summit and investor-facing events has driven short-term demand and headline coverage. D-Wave Quantum (QBTS) Surges Nearly 13% on CEO Summit Anticipation
• Neutral Sentiment: ETF/safer-bet narrative: Coverage suggests ETFs (e.g., QTUM-themed products) could offer a lower-risk way to play the sector, which may attract new capital but also divert some flows away from single names. Quantum Stocks Surge after Nvidia Boost, but QTUM ETF Offers a Safer Bet
• Neutral Sentiment: Mixed analyst/commentary: Recent articles debate D‑Wave’s valuation versus execution — useful for longer-term investors but less decisive for the current momentum trade. D-Wave Quantum: Sanity Returns D-Wave Quantum: Extreme Valuation Meets Execution Reality
• Negative Sentiment: Fundamentals remain challenged: D‑Wave reported a recent quarterly EPS and revenue miss and continues to be unprofitable (negative ROE and large negative net margin), keeping longer-term valuation and profitability questions unresolved — a risk if momentum fades.

Analyst Ratings Changes

QBTS has been the topic of a number of analyst reports. Needham & Company LLC lowered their price objective on shares of D-Wave Quantum from $48.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of D-Wave Quantum in a research report on Friday, January 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $43.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Mizuho lowered their price objective on shares of D-Wave Quantum from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Finally, Roth Mkm lowered their price objective on shares of D-Wave Quantum from $40.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.50.

D-Wave Quantum Stock Up 3.4%

The company has a market capitalization of $7.96 billion, a PE ratio of -19.56 and a beta of 1.78. The firm's 50-day simple moving average is $17.33 and its 200 day simple moving average is $24.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 42.25 and a current ratio of 42.38.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.75 million during the quarter, compared to analysts' expectations of $3.74 million. The firm's revenue was up 21.7% compared to the same quarter last year. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Activity

In other news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total transaction of $144,080.00. Following the completion of the sale, the director directly owned 19,803 shares in the company, valued at approximately $356,652.03. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $17.62, for a total transaction of $176,200.00. Following the sale, the director owned 27,778 shares of the company's stock, valued at approximately $489,448.36. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,706 shares of company stock worth $509,027. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of D-Wave Quantum by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company's stock worth $46,000 after buying an additional 482 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of D-Wave Quantum by 5.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company's stock worth $245,000 after buying an additional 500 shares during the last quarter. Huntington National Bank raised its stake in shares of D-Wave Quantum by 17.9% during the 3rd quarter. Huntington National Bank now owns 3,300 shares of the company's stock worth $82,000 after buying an additional 500 shares during the last quarter. Sigma Planning Corp raised its stake in shares of D-Wave Quantum by 3.6% during the 4th quarter. Sigma Planning Corp now owns 16,329 shares of the company's stock worth $431,000 after buying an additional 560 shares during the last quarter. Finally, AlphaStar Capital Management LLC raised its stake in shares of D-Wave Quantum by 2.2% during the 4th quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company's stock worth $708,000 after buying an additional 592 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company's stock.

About D-Wave Quantum

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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