D-Wave Quantum (NASDAQ:QBTS) Stock Jumps 2.7% – Still a Buy?

Posted by Stanley Muller on Oct 23rd, 2026

D-Wave Quantum Inc. (NASDAQ:QBTS – Get Free Report)’s stock price was up 2.7% during trading on Wednesday. The company traded as high as $12.23 and last traded at $12.10. Approximately 11,229,748 shares were traded during mid-day trading, a decline of 57% from the average session volume of 26,129,285 shares. The stock had previously closed at $11.78.

Key Headlines Impacting D-Wave Quantum

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

Positive Sentiment: Longer-term coverage remains constructive on D-Wave’s commercial potential. The company already sells quantum-computing technology, and growing bookings and expansion initiatives could support stronger revenue over time, although the business remains early-stage. Where Will D-Wave Quantum Stock Be in 5 Years?
Neutral Sentiment: Investors are weighing that growth opportunity against a substantial valuation, modest revenue and continuing losses. Commentary describes QBTS as a highly speculative investment because broad commercial adoption of quantum computing may still be years away. D-Wave Quantum Carries a Heavy Valuation
Negative Sentiment: The dominant near-term catalyst is a wave of securities-fraud lawsuit notices. The filed action covers investors who purchased QBTS securities between February 26 and August 25, 2026, and alleges material misstatements or omissions concerning D-Wave’s business and financial prospects; claims also name the company and certain executives. These are allegations, not findings of wrongdoing. Investors have until approximately December 15, 2026—or November 3 in one notice—to seek lead-plaintiff status, increasing legal and reputational risk. D-Wave Quantum Securities Fraud Class Action Filed

Wall Street Analyst Weigh In

Several analysts have recently weighed in on QBTS shares. Roth Capital reaffirmed a “buy” rating and set a $30.00 price objective on shares of D-Wave Quantum in a report on Thursday, August 6th. BMO Capital Markets assumed coverage on D-Wave Quantum in a research report on Thursday, August 20th. They set an “outperform” rating and a $35.00 price target on the stock. Zacks Research downgraded D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen raised D-Wave Quantum from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Benchmark started coverage on D-Wave Quantum in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 target price for the company. Thirteen equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Get Our Latest Stock Analysis on D-Wave Quantum

D-Wave Quantum Price Performance

The stock has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $19.63. The stock has a market capitalization of $4.31 billion, a P/E ratio of -16.41 and a beta of 2.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.42 and a current ratio of 20.55.

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 (EPS) 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 analyst estimates 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%. The company’s revenue was down 0.6 compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. On average, equities analysts forecast that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors have recently made changes to their positions in the stock. Fiduciary Financial Advisors acquired a new position in D-Wave Quantum in the second quarter valued at about $25,000. Parallel Advisors LLC grew its position in shares of D-Wave Quantum by 545.5% during the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock worth $26,000 after buying an additional 1,511 shares during the period. Adirondack Trust Co. increased its stake in shares of D-Wave Quantum by 267.3% in the 3rd quarter. Adirondack Trust Co. now owns 1,649 shares of the company’s stock valued at $27,000 after acquiring an additional 1,200 shares during the last quarter. PeakShares LLC acquired a new stake in shares of D-Wave Quantum in the 1st quarter valued at approximately $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of D-Wave Quantum in the 2nd quarter valued at approximately $39,000. 42.47% of the stock is owned by institutional investors and hedge funds.

About D-Wave Quantum

(Get Free Report)

D-Wave Quantum Inc (NASDAQ: QBTS) is a quantum computing company that develops and provides quantum computing systems, software, and related services. The company focuses on both quantum annealing and gate-model quantum computing, with the goal of helping organizations address complex optimization, artificial intelligence, materials science, cybersecurity, and other computational challenges.

Its product portfolio includes quantum computing systems, hybrid quantum-classical solutions, and the Leap quantum cloud service, which gives customers access to D-Wave systems through the cloud.