D-Wave Quantum (NASDAQ:QBTS) Shares Up 18% – Should You Buy?

D-Wave Quantum Inc. (NASDAQ:QBTS) was up 18% on Friday. The company traded as high as $10.80 and last traded at $10.68. 26,322,391 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 25,461,678 shares. The stock had previously closed at $9.05.

D-Wave Quantum News Roundup

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

• Positive Sentiment: QBTS shares moved higher alongside other quantum-computing stocks after IonQ reported a third-quarter beat and raised its 2026 revenue outlook to $505 million–$515 million. The reaction suggests optimism about the sector, rather than a D-Wave-specific financial update. Article: IonQ Surges on Beat and Raised Guidance
• Positive Sentiment: D-Wave says an upgrade to its Stride hybrid solver delivers faster, higher-quality optimization results in benchmark tests. It also introduced an applied quantum optimization learning path intended to help enterprise users adopt the technology—potentially supporting future commercial uptake, though the articles do not report new revenue from the release. Article: D-Wave Quantum Upgraded Its Stride Hybrid Solver
• Neutral Sentiment: An earnings-preview analysis acknowledges D-Wave’s customer base but argues that the optimistic growth case may already be reflected in the stock’s valuation. This is an analyst’s assessment, not a company guidance update. Article: D-Wave Quantum Earnings Preview
• Negative Sentiment: Multiple law firms publicized a securities class action concerning investors who bought D-Wave shares during a February–August 2026 class period. The case and related notices add reputational and legal uncertainty; the allegations have not been established as facts. Article: Investors Have Opportunity to Lead Securities Fraud Lawsuit
• Negative Sentiment: A valuation-focused article highlights the gap between D-Wave’s roughly $3.9 billion market value and $12.4 million in revenue, alongside a reported 60% year-to-date share decline. That reinforces concerns about valuation and the company’s ability to convert its technology into substantial sales. Article: D-Wave Carries a $3.9 Billion Price Tag on $12.4 Million in Revenue

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised D-Wave Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group set a $40.00 price objective on D-Wave Quantum in a report on Friday, August 7th. Zacks Research downgraded D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. BMO Capital Markets began coverage on D-Wave Quantum in a research report on Thursday, August 20th. They set an “outperform” rating and a $35.00 target price for the company. Finally, Roth Capital reissued a “buy” rating and set a $30.00 target price on shares of D-Wave Quantum in a report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.40.

D-Wave Quantum Stock Up 18.0%

The firm’s 50-day moving average price is $14.58 and its 200 day moving average price is $18.91. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -15.04 and a beta of 2.35. 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) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $3.08 million for the quarter, compared to the consensus estimate of $4.03 million. D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%. The business’s revenue was down 0.6 on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. On average, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.50 EPS for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of D-Wave Quantum in the 2nd quarter valued at $795,206,000. Bank of America Corp DE acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth $104,183,000. Van ECK Associates Corp raised its holdings in shares of D-Wave Quantum by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,339,788 shares of the company’s stock worth $56,132,000 after buying an additional 806,835 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of D-Wave Quantum during the 2nd quarter worth $54,951,000. Finally, Wellington Management Group LLP lifted its position in shares of D-Wave Quantum by 372.2% during the 2nd quarter. Wellington Management Group LLP now owns 1,820,070 shares of the company’s stock worth $43,663,000 after buying an additional 1,434,657 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors.

About D-Wave Quantum

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.