D-Wave Quantum (NYSE:QBTS) Trading Down 6.6% – What’s Next?

D-Wave Quantum Inc. (NYSE:QBTS) shares dropped 6.6% during mid-day trading on Friday . The company traded as low as $25.23 and last traded at $25.6130. Approximately 37,840,410 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 40,891,238 shares. The stock had previously closed at $27.43.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: Major analyst endorsements: Needham reaffirmed a “buy” and set a $48 price target (about +87% from ~$25.6), and Benchmark reaffirmed a “buy” with a $35 target (~+37% upside). Those outsized targets support further investor interest and provide near-term bullish catalysts. Needham & Benchmark Coverage
• Positive Sentiment: Acquisition closed: D-Wave completed its Quantum Circuits acquisition, expanding its technology and IP base — a strategic move that accelerates D‑Wave’s product roadmap and could help revenue diversification. Acquisition Announcement
• Positive Sentiment: Revenue momentum narrative reinforced: Coverage highlighting QBTS’s 332% one‑year gain and triple‑digit revenue growth (driven by Advantage2 system sales) supports the story that 2025 marked a commercial inflection versus prior research‑stage results. That outlook underpins analyst bullishness. Zacks Revenue Article
• Neutral Sentiment: Earnings/earnings call transcript available: The Q3 2025 transcript gives investors detail on guidance, customer traction and margin drivers — useful for modeling but containing no new headline surprise in itself. Review the call for detail on commercialization cadence. Earnings Call Transcript
• Neutral Sentiment: Industry comparison piece: A Zacks primer comparing Rigetti (RGTI) vs. D‑Wave frames the two firms’ different paths (gate‑based long term vs near‑term annealing/commercial sales). Useful context but not an immediate catalyst. Rigetti vs D‑Wave
• Neutral Sentiment: Market commentary: Weekly market recap that mentions D‑Wave among growth stories — helpful tone-setting on macro/sector but not company-specific. MarketBeat Coverage
• Negative Sentiment: Profit-taking / valuation sensitivity: After a large YTD run and wide analyst upside, the stock is vulnerable to short-term profit-taking and to macro/tech sentiment shifts (Fed guidance, risk‑off flows). That likely contributed to today’s decline despite favorable company news.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Roth Mkm set a $40.00 target price on D-Wave Quantum in a research note on Thursday, November 6th. Cantor Fitzgerald upped their price objective on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group initiated coverage on shares of D-Wave Quantum in a research report on Tuesday, December 16th. They issued a “buy” rating and a $45.00 target price on the stock. Wedbush started coverage on shares of D-Wave Quantum in a research report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of D-Wave Quantum in a research note on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.86.

D-Wave Quantum Trading Down 6.6%

The stock’s 50 day moving average is $26.25 and its 200-day moving average is $24.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The company has a market capitalization of $8.97 billion, a P/E ratio of -18.97 and a beta of 1.57.

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

Insiders Place Their Bets

In other D-Wave Quantum news, CEO Alan E. Baratz sold 35,013 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total value of $982,464.78. Following the sale, the chief executive officer directly owned 2,598,150 shares of the company’s stock, valued at approximately $72,904,089. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kirstjen Nielsen sold 7,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total value of $158,340.00. Following the completion of the sale, the director directly owned 112,673 shares in the company, valued at approximately $2,548,663.26. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,346,916 shares of company stock valued at $65,591,314. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in QBTS. Valley National Advisers Inc. boosted its holdings in D-Wave Quantum by 222.2% in the fourth quarter. Valley National Advisers Inc. now owns 1,595 shares of the company’s stock worth $41,000 after purchasing an additional 1,100 shares during the last quarter. Choreo LLC boosted its stake in shares of D-Wave Quantum by 17.6% in the 4th quarter. Choreo LLC now owns 22,904 shares of the company’s stock worth $601,000 after buying an additional 3,424 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of D-Wave Quantum by 11.9% in the fourth quarter. Diversify Advisory Services LLC now owns 22,573 shares of the company’s stock worth $651,000 after acquiring an additional 2,397 shares during the period. Eagle Strategies LLC increased its position in D-Wave Quantum by 3.4% during the fourth quarter. Eagle Strategies LLC now owns 46,003 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in D-Wave Quantum in the fourth quarter valued at about $1,114,000. 42.47% of the stock is owned by hedge funds and other 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.