Benchmark Reaffirms Buy Rating for D-Wave Quantum (NYSE:QBTS)

D-Wave Quantum (NYSE:QBTS)‘s stock had its “buy” rating reiterated by equities research analysts at Benchmark in a report issued on Friday,Benzinga reports. They currently have a $35.00 price target on the stock. Benchmark’s price objective indicates a potential upside of 36.65% from the stock’s previous close.

Several other brokerages have also weighed in on QBTS. Roth Mkm set a $40.00 price objective on shares of D-Wave Quantum in a report on Thursday, November 6th. Evercore ISI began coverage on shares of D-Wave Quantum in a research report on Wednesday, December 3rd. They set an “outperform” rating and a $44.00 price target for the company. Jefferies Financial Group initiated coverage on shares of D-Wave Quantum in a report on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price target on the stock. Wedbush began coverage on shares of D-Wave Quantum in a research note on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Williams Trading set a $35.00 target price on D-Wave Quantum in a research report on Monday, November 10th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Moderate Buy” and a consensus target price of $37.86.

D-Wave Quantum Stock Down 6.6%

QBTS stock opened at $25.61 on Friday. D-Wave Quantum has a one year low of $4.45 and a one year high of $46.75. The stock has a market capitalization of $8.97 billion, a P/E ratio of -18.97 and a beta of 1.57. The company has a 50 day moving average price of $26.29 and a two-hundred day moving average price of $24.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.03 million. The company’s quarterly revenue was up 105.6% on a year-over-year basis. As a group, sell-side analysts expect that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Buying and Selling

In other news, CFO John M. Markovich sold 9,179 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total value of $257,562.74. Following the transaction, the chief financial officer owned 1,462,133 shares of the company’s stock, valued at approximately $41,027,451.98. This trade represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the transaction, the director owned 37,778 shares in the company, valued at $917,249.84. The trade was a 20.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,346,916 shares of company stock valued at $65,591,314. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in D-Wave Quantum by 41.2% during the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after acquiring an additional 11,218,255 shares in the last quarter. UBS Group AG grew its position in D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after acquiring an additional 10,205,427 shares in the last quarter. Marex Group plc purchased a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $80,070,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of D-Wave Quantum during the second quarter worth $45,372,000. Finally, Clear Street Group Inc. acquired a new position in shares of D-Wave Quantum during the third quarter worth $75,344,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Key Stories Impacting D-Wave Quantum

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

• Positive Sentiment: D-Wave completed its acquisition of Quantum Circuits, expanding its product and engineering footprint and accelerating commercialization of gate-model capabilities alongside its annealing systems. Article Title
• Positive Sentiment: Company momentum: 2025 marked a clear revenue inflection — triple-digit year-over-year revenue growth and Advantage2 system sales are shifting D‑Wave from research toward commercial revenue streams, supporting a longer-term growth story. Article Title
• Positive Sentiment: Analyst support: Needham (maintained buy, $48 PT) and Benchmark (buy, $35 PT) reaffirmed bullish views — signals of institutional confidence that provide upside targets well above current levels. Needham Coverage Benchmark Coverage
• Neutral Sentiment: Investors can review management commentary and detail in recent earnings call transcripts (Q2 and Q3 2025) for updates on pipeline, product cadence and commercial bookings; these are information-heavy but not immediate price-moving headlines on their own. Q2 2025 Transcript Q3 2025 Transcript
• Neutral Sentiment: Analyst and sector comparisons (e.g., Zacks piece comparing Rigetti and D‑Wave) frame D‑Wave as a near-term commercial play vs. gate‑focused peers — useful context for longer-term positioning but mixed for short-term trading. Article Title
• Negative Sentiment: New US$330M shelf filing has raised near-term dilution and funding questions; investors appear to be pricing potential share issuance against the positive acquisition and revenue news, contributing to selling pressure. Article Title

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.