D-Wave Quantum (NYSE:QBTS) Price Target Lowered to $40.00 at Needham & Company LLC

D-Wave Quantum (NYSE:QBTS) had its target price decreased by Needham & Company LLC from $48.00 to $40.00 in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on QBTS. Mizuho began coverage on D-Wave Quantum in a research note on Thursday, December 11th. They set an “outperform” rating and a $46.00 target price for the company. Cantor Fitzgerald raised their price objective on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Canaccord Genuity Group set a $43.00 price objective on shares of D-Wave Quantum in a report on Thursday, January 29th. TD Cowen assumed coverage on shares of D-Wave Quantum in a research note on Thursday, February 12th. They set a “buy” rating for the company. Finally, 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. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.64.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $20.14 on Thursday. 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 firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of -14.92 and a beta of 1.56. The company’s 50-day moving average is $24.40 and its two-hundred day moving average is $24.89. D-Wave Quantum has a 1-year low of $4.45 and a 1-year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The firm had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts forecast that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Activity at D-Wave Quantum

In other news, Director Kirstjen Nielsen sold 7,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.62, for a total transaction of $158,340.00. Following the sale, the director owned 112,673 shares of the company’s stock, valued at approximately $2,548,663.26. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the completion of the transaction, the director directly owned 37,778 shares of the company’s stock, valued at approximately $917,249.84. The trade was a 20.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,074,466 shares of company stock worth $31,558,806 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after acquiring an additional 11,218,255 shares during the period. UBS Group AG boosted its holdings in D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after purchasing an additional 10,205,427 shares during the period. Marex Group plc acquired a new position in D-Wave Quantum during the 2nd quarter worth $80,070,000. Northwestern Mutual Wealth Management Co. grew its stake in D-Wave Quantum by 136,842.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company’s stock worth $83,546,000 after purchasing an additional 3,192,533 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in D-Wave Quantum during the 2nd quarter worth about $45,372,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting D-Wave Quantum

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

• Positive Sentiment: Significant bookings and momentum: management reported Q4 bookings jumped (Q4 bookings ~ $13.4M, a large sequential increase) and January bookings reportedly exceeded $30M, signaling pipeline strength that could lift future revenue. D-Wave: Despite a Double Miss…
• Positive Sentiment: Healthy cash position after acquisition: D‑Wave ended the period with substantial cash and marketable securities (reported near $885M), which reduces near‑term financing/dilution risk as it invests in R&D and go‑to‑market. D-Wave: Despite a Double Miss…
• Neutral Sentiment: Analyst reaction is mixed: Needham cut its price target from $48 to $40 but kept a Buy rating — the action supports a bullish view but signals tempered near‑term expectations. Needham lowers price target
• Neutral Sentiment: Earnings call detail available for investors — the transcript provides management’s color on bookings, product demand (Advantage2 sales) and strategy after the Quantum Circuits acquisition. Review the call for guidance on timing of revenue conversion. Q4 2025 earnings call transcript
• Negative Sentiment: Q4 top‑ and bottom‑line misses: revenue ($2.75M) and adjusted EPS (loss) missed consensus — Zacks flagged an EPS loss larger than expected ($0.12 vs. est. $0.05 loss) and revenue below estimates, which keeps near‑term fundamentals weak. Zacks: Q4 loss, revenue miss
• Negative Sentiment: Execution and profitability risks remain: revenue is still small relative to cash burn, the company expects heavy R&D and GTM spending as it scales, and recent M&A + shelf filings raise dilution/ execution risk should growth not accelerate. Barron’s: Revenue miss doesn’t matter?

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.