D-Wave Quantum (NASDAQ:QBTS) Stock Falls 7.6% on Analyst Downgrade

Key Points

• D-Wave Quantum shares fell 7.6% to $9.84 after StoneX cut its price target from $30 to $20, while keeping a Buy rating.
• Other analysts also lowered price targets, though the stock retains a Moderate Buy consensus and a reported average target of $30. Recent results missed EPS expectations but beat revenue estimates; nine-month bookings reportedly rose 611% year over year.
• Securities class-action allegations concerning statements about the company’s growth prospects add uncertainty; the claims are unproven, and the lead-plaintiff deadline is December 15, 2026.

D-Wave Quantum Inc. (NASDAQ:QBTS - Get Free Report) was down 7.6% during mid-day trading on Thursday after StoneX lowered their price target on the stock from $30.00 to $20.00. StoneX currently has a buy rating on the stock. D-Wave Quantum traded as low as $9.81 and last traded at $9.84. 13,776,095 shares were traded during trading, a decline of 46% from the average daily volume of 25,357,672 shares. The stock had previously closed at $10.65.

A number of other brokerages have also weighed in on QBTS. Needham & Company LLC cut their target price on shares of D-Wave Quantum from $40.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday. Wall Street Zen raised shares of D-Wave Quantum from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Stifel Nicolaus dropped their price target on shares of D-Wave Quantum from $35.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday. Canaccord Genuity Group cut their price objective on shares of D-Wave Quantum from $35.00 to $31.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wedbush initiated coverage on shares of D-Wave Quantum in a research note on Monday, August 3rd. They issued an "outperform" rating and a $40.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Key D-Wave Quantum News

Here's some of the latest news about QBTS:

• Positive Sentiment: Nine-month bookings reportedly surged 611% year over year to $37.4 million, and Wedbush maintained an Outperform rating, citing demand and an expected fourth-quarter delivery to a major Florida university system. Article
• Neutral Sentiment: StoneX cut its price target from $30 to $20 but kept a Buy rating, reflecting a more cautious valuation outlook while retaining confidence in the stock’s potential. Analyst rating
• Negative Sentiment: Several law firms publicized a securities class action alleging misleading statements about D-Wave’s growth prospects during the February–August 2026 class period. The allegations are unproven; the lead-plaintiff deadline is December 15, 2026. Repeated lawsuit announcements may add uncertainty and reputational risk. Article

Hedge Funds Weigh In On D-Wave Quantum

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP grew its position in shares of D-Wave Quantum by 47.1% in the 3rd quarter. First Trust Advisors LP now owns 98,410 shares of the company's stock worth $1,631,000 after buying an additional 31,506 shares during the period. Private Advisor Group LLC lifted its position in D-Wave Quantum by 39.7% during the 3rd quarter. Private Advisor Group LLC now owns 67,706 shares of the company's stock valued at $1,122,000 after acquiring an additional 19,252 shares during the period. Voya Investment Management LLC boosted its stake in D-Wave Quantum by 7.0% during the third quarter. Voya Investment Management LLC now owns 1,161,501 shares of the company's stock worth $19,246,000 after acquiring an additional 76,350 shares in the last quarter. Bogart Wealth LLC boosted its stake in D-Wave Quantum by 36.5% during the third quarter. Bogart Wealth LLC now owns 4,065 shares of the company's stock worth $67,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Cibc World Market Inc. grew its holdings in D-Wave Quantum by 28.5% in the third quarter. Cibc World Market Inc. now owns 78,228 shares of the company's stock worth $1,296,000 after purchasing an additional 17,339 shares during the period. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Trading Down 7.6%

The stock's fifty day simple moving average is $14.22 and its two-hundred day simple moving average is $18.68. The firm has a market cap of $3.64 billion, a PE ratio of -22.88 and a beta of 2.35. The company has a quick ratio of 20.42, a current ratio of 20.55 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $4.51 million for the quarter, compared to analysts' expectations of $4.37 million. D-Wave Quantum had a negative net margin of 1,188.79% and a negative return on equity of 15.39%. During the same period last year, the business earned ($0.41) earnings per share. On average, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.50 EPS for the current fiscal year.

About D-Wave Quantum

D-Wave Quantum develops quantum computing systems, software and services for commercial, government and research users. The company focuses on quantum annealing, an approach designed to help solve complex optimization and sampling problems, and offers hybrid tools that combine quantum processing with classical computing. Its offerings include Advantage quantum computers, the Leap quantum cloud service, and software for building and running applications. D-Wave's technology is used to explore challenges such as scheduling, resource allocation and supply-chain optimization.

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