D-Wave Quantum (NASDAQ:QBTS) Upgraded by BMO Capital Markets to Strong-Buy Rating

Posted by Francis Steltz on Aug 22nd, 2026

D-Wave Quantum (NASDAQ:QBTS – Get Free Report) was upgraded by equities research analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently weighed in on QBTS. Wedbush began coverage on shares of D-Wave Quantum in a research note on Monday, August 3rd. They set an “outperform” rating and a $40.00 target price on the stock. Jefferies Financial Group set a $40.00 price target on D-Wave Quantum in a research note on Friday, August 7th. Stifel Nicolaus set a $35.00 price target on D-Wave Quantum in a report on Tuesday, June 2nd. Canaccord Genuity Group set a $35.00 price target on D-Wave Quantum in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.27.

View Our Latest Report on QBTS

D-Wave Quantum Price Performance

NASDAQ QBTS opened at $20.39 on Thursday. D-Wave Quantum has a 12 month low of $12.75 and a 12 month high of $46.75. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of -28.72 and a beta of 2.15. The company’s 50 day moving average is $20.62 and its two-hundred day moving average is $20.24. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $4.03 million. D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. D-Wave Quantum’s revenue for the quarter was down 0.6 compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, research analysts anticipate that D-Wave Quantum will post -0.46 earnings per share for the current year.

Insider Transactions at D-Wave Quantum

In related news, Director Rohit Ghai sold 13,518 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.41, for a total transaction of $357,010.38. Following the completion of the transaction, the director directly owned 23,617 shares of the company’s stock, valued at approximately $623,724.97. This trade represents a 36.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan E. Baratz sold 687,627 shares of D-Wave Quantum stock in a transaction on Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the completion of the sale, the chief executive officer owned 3,299,771 shares in the company, valued at approximately $86,223,016.23. This represents a 17.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,012,065 shares of company stock valued at $26,245,703. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of D-Wave Quantum during the second quarter valued at about $795,206,000. UBS Group AG lifted its position 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of D-Wave Quantum by 11.5% in the fourth quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock worth $220,085,000 after buying an additional 866,405 shares in the last quarter. State Street Corp boosted its stake in D-Wave Quantum by 5.3% during the fourth quarter. State Street Corp now owns 7,707,085 shares of the company’s stock valued at $201,540,000 after buying an additional 385,809 shares during the last quarter. Finally, Marex Group plc boosted its stake in D-Wave Quantum by 74.9% during the fourth quarter. Marex Group plc now owns 4,592,656 shares of the company’s stock valued at $120,098,000 after buying an additional 1,966,500 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

Key D-Wave Quantum News

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

Positive Sentiment: BMO initiated coverage with an Outperform rating and a $35 price target, implying roughly 85%–86% upside from recent levels. The firm highlighted D-Wave’s commercial revenue potential, providing a significant catalyst for the stock. D-Wave Quantum Stock Climbs as BMO Turns Bullish
Positive Sentiment: NTT DOCOMO deployed a second production application powered by D-Wave to improve mobile-network planning and efficiency. The deployment expands the relationship beyond pilot projects and offers evidence that D-Wave’s technology is being used in commercial telecom operations. D-Wave Lands Second Production Telecom Application
Positive Sentiment: D-Wave’s order and contracted-revenue indicators remain strong. First-half bookings reportedly surged 1,120% year over year to $35.5 million, while remaining performance obligations rose 668% to $40.7 million. Nearly $23 million of contracted revenue could be recognized within 12 months, and commercial customers generated 67.7% of first-half revenue. D-Wave: Demand Is Outrunning Revenue
Neutral Sentiment: Analysts and market commentary are increasingly focused on whether D-Wave can convert customer interest, bookings and production applications into sustained revenue and eventual profitability. Some quantum stocks continue to attract attention for their growth prospects despite a tougher market. Quantum Stocks Face Reality Check
Negative Sentiment: Valuation remains a concern. After approximately a 15-fold three-year gain, D-Wave screens as expensive on valuation measures, raising the risk that substantial future progress is already reflected in the share price. D-Wave Quantum Stock Looks Expensive
Negative Sentiment: Quantum-computing stocks have recently faced broad sector selling, while Zacks Research downgraded D-Wave from “Strong Buy” to “Hold.” These factors could limit gains even as company-specific news improves sentiment. Quantum Stock Selloff

About D-Wave Quantum

(Get Free Report)

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.