D-Wave Quantum (NYSE:QBTS) Shares Gap Down – Here’s What Happened

D-Wave Quantum Inc. (NYSE:QBTS) shares gapped down prior to trading on Tuesday . The stock had previously closed at $24.03, but opened at $22.42. D-Wave Quantum shares last traded at $23.58, with a volume of 15,692,820 shares traded.

Key D-Wave Quantum News

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

• Positive Sentiment: Several analysts reiterated bullish views after earnings, including Rosenblatt, Needham, and Cantor Fitzgerald, with price targets as high as $43 and $40, signaling continued confidence in D-Wave’s long-term quantum-computing opportunity.
• Positive Sentiment: Investor focus has shifted toward D-Wave’s bookings surge, which jumped sharply year over year to $33.4 million, suggesting stronger customer demand and future revenue potential despite the current-quarter miss.
• Positive Sentiment: The company also announced Qubits Europe 2026, a user conference in London, which may help support customer engagement and visibility for its technology roadmap.
• Neutral Sentiment: Recent articles comparing leading quantum companies after Q1 earnings highlight D-Wave as a notable player in a sector that is attracting more investor attention, but not yet clear winner status.
• Neutral Sentiment: Canaccord Genuity maintained a buy rating, reinforcing that the stock still has supporters even as analysts debate how to value its growth versus near-term financial weakness.
• Negative Sentiment: Q1 results were mixed: D-Wave beat EPS estimates but missed revenue expectations, and sales fell sharply year over year, keeping pressure on the stock’s fundamentals.
• Negative Sentiment: Mizuho trimmed its price target to $29 from $31, reflecting some caution after the earnings report and reminding investors that profitability remains a concern.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on QBTS. Mizuho dropped their price target on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday. Roth Mkm dropped their price target on 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. Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of D-Wave Quantum in a research report on Friday, January 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday. Finally, TD Cowen began coverage on D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating on the stock. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.67.

D-Wave Quantum Stock Performance

The business’s fifty day moving average is $17.95 and its 200-day moving average is $22.74. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The company has a market cap of $8.19 billion, a PE ratio of -19.59 and a beta of 1.95.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS 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 analyst estimates 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%.D-Wave Quantum’s revenue was down 80.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) EPS. As a group, research analysts predict that D-Wave Quantum Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the sale, the director directly owned 19,803 shares of the company’s stock, valued at $356,652.03. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Markovich sold 10,706 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $17.63, for a total value of $188,746.78. Following the sale, the chief financial officer directly owned 1,451,427 shares in the company, valued at approximately $25,588,658.01. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,776 shares of company stock valued at $574,571. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On D-Wave Quantum

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC increased its holdings in shares of D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after purchasing an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in D-Wave Quantum during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after buying an additional 838 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $31,000. Finally, Ancora Advisors LLC bought a new position in shares of D-Wave Quantum during the third quarter valued at approximately $30,000. 42.47% of the stock is owned by 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.