D-Wave Quantum (NYSE:QBTS) Trading Up 3.3% - Should You Buy?

Key Points

• D-Wave Quantum shares rose 3.3% on Thursday, trading as high as $22.53 as investors reacted to recent company news and analyst commentary.
• Q1 bookings jumped to $33.4 million, signaling stronger demand for D-Wave’s quantum computing platform, even though the company’s latest quarterly revenue missed expectations and fell sharply year over year.
• Wall Street remains mostly bullish: several firms, including Benchmark, Cantor Fitzgerald, and Needham, reiterated Buy/Overweight ratings, with consensus price targets above the current stock price despite some caution from analysts.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s share price was up 3.3% during trading on Thursday . The company traded as high as $22.53 and last traded at $22.14. Approximately 28,057,405 shares traded hands during trading, a decline of 5% from the average daily volume of 29,688,281 shares. The stock had previously closed at $21.44.

More D-Wave Quantum News

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

• Positive Sentiment: Q1 bookings surged to $33.4 million, a massive year-over-year increase that investors are reading as evidence of stronger commercial demand for D-Wave’s quantum computing platform. D-Wave Shares Rise After Massive 20x Jump in Bookings Signals Demand Spike
• Positive Sentiment: Several analysts reiterated bullish views, including Rosenblatt, Needham, and Cantor Fitzgerald, with price targets well above the current share price, helping support sentiment around the stock. Analyst rating updates
• Positive Sentiment: D-Wave announced Qubits Europe 2026, a user conference in London, which may help build awareness, deepen customer relationships, and reinforce its commercialization efforts. Here Is Why D-Wave Quantum Inc. (QBTS) Is Among the Best Hardware Stocks to Buy for the AI PC Revolution
• Neutral Sentiment: Market commentary continues to compare D-Wave with other quantum names after Q1 earnings, with the sector still being valued more on long-term potential than current profitability. How the 3 Leading Quantum Firms Stack Up After Q1 Earnings (QBTS)
• Neutral Sentiment: Canaccord Genuity kept a Buy rating on QBTS, and other articles highlighted ongoing interest in the stock’s recent trend, but these items mostly reinforce existing sentiment rather than changing the story. Canaccord Genuity Sticks to Their Buy Rating for D-Wave Quantum (QBTS)
• Negative Sentiment: Q1 results were mixed: revenue came in below expectations and fell sharply from a year ago, while losses remain a key concern, prompting some analyst forecast cuts. D-Wave Quantum Analysts Slash Their Forecasts After Q1 Results
• Negative Sentiment: Mizuho trimmed its price target on QBTS, signaling some caution even as it maintained an outperform stance. D-Wave Quantum NYSE: QBTS Price Target Cut to $29.00 by Analysts at Mizuho

Analysts Set New Price Targets

A number of equities analysts have recently commented on QBTS shares. Benchmark reissued a "buy" rating and set a $35.00 price objective on shares of D-Wave Quantum in a research report on Friday, January 23rd. Cantor Fitzgerald reissued an "overweight" rating and set a $40.00 price objective on shares of D-Wave Quantum in a research report on Wednesday. Northland Securities started coverage on D-Wave Quantum in a research report on Monday, April 20th. They set a "market perform" rating and a $22.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $40.00 price objective on shares of D-Wave Quantum in a research report on Wednesday. Finally, Zacks Research upgraded D-Wave Quantum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, D-Wave Quantum currently has an average rating of "Moderate Buy" and a consensus target price of $34.67.

D-Wave Quantum Stock Performance

The firm has a 50 day moving average of $17.95 and a two-hundred day moving average of $22.74. The stock has a market cap of $8.19 billion, a PE ratio of -19.59 and a beta of 1.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 42.25.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $2.86 million during the quarter, compared to analysts' expectations of $4.19 million. D-Wave Quantum had a negative return on equity of 49.80% and a negative net margin of 2,957.23%.The firm's revenue was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) earnings per share. Research analysts predict that D-Wave Quantum Inc. will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO John M. Markovich sold 10,706 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $17.63, for a total transaction of $188,746.78. Following the completion of the sale, the chief financial officer owned 1,451,427 shares in the company, valued at $25,588,658.01. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total value of $144,080.00. Following the sale, the director owned 19,803 shares of the company's stock, valued at approximately $356,652.03. The trade was a 28.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,776 shares of company stock worth $574,571 in the last three months. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds have recently modified their holdings of the business. Csenge Advisory Group grew its position in shares of D-Wave Quantum by 99.1% during the third quarter. Csenge Advisory Group now owns 35,886 shares of the company's stock worth $887,000 after acquiring an additional 17,860 shares during the last quarter. Mutual Advisors LLC purchased a new position in shares of D-Wave Quantum during the third quarter worth approximately $1,069,000. Federated Hermes Inc. grew its position in shares of D-Wave Quantum by 259,560.6% during the third quarter. Federated Hermes Inc. now owns 184,359 shares of the company's stock worth $4,556,000 after acquiring an additional 184,288 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of D-Wave Quantum by 370.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company's stock worth $2,378,000 after acquiring an additional 75,807 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of D-Wave Quantum by 254.7% during the fourth quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company's stock worth $59,413,000 after acquiring an additional 1,631,415 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.