D-Wave Quantum (NYSE:QBTS) Trading 4% Higher – Still a Buy?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price was up 4% on Tuesday . The company traded as high as $24.98 and last traded at $24.69. Approximately 41,264,655 shares traded hands during trading, an increase of 3% from the average daily volume of 40,247,191 shares. The stock had previously closed at $23.75.

Key D-Wave Quantum News

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

• Positive Sentiment: Florida Atlantic University agreed to buy an Advantage2 annealing quantum computer in a $20M deal, representing a material single-customer system sale and validation of D‑Wave’s Advantage2 product. Florida Atlantic University Signs $20M Agreement
• Positive Sentiment: D‑Wave selected Boca Raton, FL for its new corporate headquarters and U.S. R&D facility — a move that management frames as supporting commercialization and customer-facing activity in the U.S. D-Wave Selects Boca Raton for New Corporate Headquarters
• Positive Sentiment: Management announced technology milestones (hybrid solver capabilities and progress across annealing and gate-model platforms) at Qubits 2026, reinforcing the company’s dual-platform commercial narrative. D-Wave Announces Advancements in Annealing and Gate-Model
• Positive Sentiment: D‑Wave announced a collaboration with Anduril and Davidson to develop quantum applications for U.S. air and missile defense — a strategic defense sector partnership that could open government contracts and recurring revenue streams. Anduril, Davidson and D-Wave Collaborate
• Positive Sentiment: Press coverage (Barron’s and Zacks) highlights recent system sales, the HQ move and analyst commentary that QBTS may rebound more steadily than some peers due to real revenues and improving loss estimates. D-Wave Stock Gains After $30 Million in Deals and HQ Move to Florida QBTS or IONQ: Which Quantum Stock Wins After January Sell-Off?
• Neutral Sentiment: Analysts maintain a generally constructive stance (consensus around a “moderate buy”) and some coverage notes strong recent revenue growth and the strategic acquisition of Quantum Circuits. D-Wave Given Average Rating of “Moderate Buy”
• Neutral Sentiment: Investor commentary and articles (including Motley Fool and Zacks blogs) discuss the acquisition of Quantum Circuits and 100% year-over-year revenue growth — useful context but not immediate catalysts by themselves. Is D-Wave Quantum Stock Going To $0? The Zacks Analyst Blog: Rigetti, D-Wave Quantum, and IonQ
• Negative Sentiment: D‑Wave filed shelf registrations totaling about $330M after spending ~$550M on Quantum Circuits; while the shelf gives financing flexibility, it raises legitimate dilution risk that investors fear if shares are sold to replenish cash. D-Wave Files $330 Million Shelf

Wall Street Analysts Forecast Growth

QBTS has been the subject of several recent research reports. Williams Trading set a $35.00 price target on D-Wave Quantum in a research report on Monday, November 10th. Wedbush assumed coverage on D-Wave Quantum in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 target price on the stock. Evercore ISI initiated 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. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of D-Wave Quantum in a report on Wednesday, January 7th. Finally, Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

D-Wave Quantum Stock Up 4.0%

The company’s 50-day moving average is $26.31 and its 200 day moving average is $24.57. The stock has a market capitalization of $8.64 billion, a PE ratio of -18.29 and a beta of 1.57. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05.

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

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $24.28, for a total transaction of $242,800.00. Following the sale, the director owned 37,778 shares in the company, valued at approximately $917,249.84. The trade was a 20.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $27.36, for a total value of $218,880.00. Following the completion of the transaction, the director directly owned 27,803 shares in the company, valued at $760,690.08. This represents a 22.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,346,916 shares of company stock worth $65,591,314 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Trading of D-Wave Quantum

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew 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 purchasing an additional 11,218,255 shares during the period. UBS Group AG boosted its stake in shares of D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after buying an additional 10,205,427 shares during the last quarter. State Street Corp grew its holdings in D-Wave Quantum by 41.3% during the second quarter. State Street Corp now owns 6,648,395 shares of the company’s stock worth $97,333,000 after acquiring an additional 1,941,762 shares during the period. Geode Capital Management LLC raised its position in D-Wave Quantum by 41.6% during the second quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock valued at $93,877,000 after acquiring an additional 1,883,109 shares in the last quarter. Finally, Marex Group plc purchased a new position in D-Wave Quantum during the second quarter valued at approximately $80,070,000. 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.