D-Wave Quantum (NYSE:QBTS) Trading Up 3.6% – Still a Buy?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price shot up 3.6% on Friday . The company traded as high as $22.86 and last traded at $22.6990. 31,389,928 shares traded hands during trading, a decline of 3% from the average session volume of 32,339,709 shares. The stock had previously closed at $21.91.

D-Wave Quantum News Roundup

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

• Positive Sentiment: D-Wave unveiled a first-of-its-kind error-aware quantum simulator and said developer access is planned for September 2026, which could strengthen its gate-model roadmap and support longer-term commercialization. D-Wave Advances Gate-Model Roadmap With First-of-its-Kind Stimulator
• Positive Sentiment: Analyst commentary has remained constructive, with Roth Capital recently raising its price target to $40 and keeping a Buy rating, reflecting confidence in D-Wave’s investor engagement and commercial story. D-Wave Quantum (QBTS) Says It Has a Key Edge Over Rivals; Is Wall Street Buying the Story?
• Positive Sentiment: One article argued that D-Wave’s commercial progress, bookings growth, and roadmap could help it outperform peers like Rigetti in the second half of 2026. QBTS or RGTI: Which Quantum Stock is Poised to Lead in H2 2026?
• Neutral Sentiment: Coverage around D-Wave’s recent weakness framed the stock move as a reaction to mixed signals: new U.S. quantum funding and executive orders create opportunity, but investors are also questioning whether the company’s dual-platform strategy and timing will translate into near-term results. D-Wave Quantum (QBTS) Is Down 11.3% After U.S. Quantum Orders And Dual-Platform Roadmap Shift
• Negative Sentiment: A recent article said QBTS “needed a win” after a disappointing earnings report, implying the market is still focused on losses, weak revenue versus expectations, and execution risk. How Does D-Wave’s New Simulator Change the Quantum Computing Landscape?
• Negative Sentiment: Another theme in the coverage is that while D-Wave has promising technology, some investors and analysts remain unconvinced that the simulator announcement alone will materially change the competitive landscape in the near term. D-Wave Advances Gate-Model Roadmap With First-of-its-Kind Stimulator

Wall Street Analyst Weigh In

QBTS has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Canaccord Genuity Group reduced their price objective on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Northland Securities began coverage on D-Wave Quantum in a report on Monday, April 20th. They issued a “market perform” rating and a $22.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of D-Wave Quantum in a report on Wednesday, May 13th. Finally, Weiss Ratings raised D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

D-Wave Quantum Stock Up 3.6%

The business’s 50 day moving average is $23.46 and its 200 day moving average is $22.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of -20.09 and a beta of 2.05.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company’s quarterly revenue was down 80.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. Equities analysts expect that D-Wave Quantum Inc. will post -0.43 earnings per share for the current year.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 328,752 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $27.70, for a total transaction of $9,106,430.40. Following the completion of the sale, the chief financial officer directly owned 1,442,820 shares in the company, valued at approximately $39,966,114. This trade represents a 18.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 687,627 shares of D-Wave Quantum stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $26.13, for a total value of $17,967,693.51. Following the transaction, the chief executive officer directly owned 3,299,771 shares in the company, valued at approximately $86,223,016.23. This trade represents a 17.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,363,842 shares of company stock valued at $35,802,656 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of D-Wave Quantum by 370.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company’s stock valued at $2,378,000 after acquiring an additional 75,807 shares in the last quarter. SG Americas Securities LLC raised its holdings 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 in the last quarter. WBI Investments LLC purchased a new stake in shares of D-Wave Quantum during the third quarter worth $844,000. Massachusetts Financial Services Co. MA acquired a new stake in D-Wave Quantum during the fourth quarter valued at $1,114,000. Finally, World Investment Advisors boosted its position in D-Wave Quantum by 195.7% during the fourth quarter. World Investment Advisors now owns 41,691 shares of the company’s stock valued at $1,090,000 after purchasing an additional 27,592 shares during the last quarter. 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.