D-Wave Quantum (NYSE:QBTS) Shares Up 10.7% – Should You Buy?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price traded up 10.7% during mid-day trading on Wednesday . The company traded as high as $24.04 and last traded at $23.8460. 38,275,926 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 29,625,477 shares. The stock had previously closed at $21.54.

D-Wave Quantum News Summary

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

• Positive Sentiment: Company catalyst — D‑Wave announced “Qubits Europe 2026: Quantum Realized,” a June 18 London user conference that the company will use to highlight customer use cases, product roadmap updates and commercial adoption — a time‑stamped event that can spark short‑term buying and media attention. D‑Wave Announces Qubits Europe 2026 Quantum Computing User Conference
• Positive Sentiment: Sector momentum — pure‑play quantum names are rallying today, lifting QBTS alongside peers; this group bid is reinforcing pre‑earnings positioning. Which Quantum Computing Stock Has Dominated in 2026: IonQ, Rigetti, or D‑Wave?
• Positive Sentiment: Analyst/upside narratives — recent coverage (including a Zacks piece and multiple bullish analyst price targets) has highlighted potential large upside ahead of earnings, which can attract momentum traders and flow into the stock. Best Stocks for May: QBTS, RGTI With 75% Target Upside Before Earnings
• Neutral Sentiment: Earnings calendar — investors are positioning ahead of FQ1 results (expected mid‑May); anticipated revenue and EPS guidance will be a primary near‑term mover but are currently a catalyst rather than a concrete positive or negative. Here’s What the Street Thinks About D‑Wave Quantum (QBTS) Ahead of FQ1 2026 Earnings
• Neutral Sentiment: Corporate moves — the company amended CEO compensation to support growth/retention; this can be viewed as supportive for execution but may raise governance or dilution questions for some investors. D‑Wave Quantum Enhances CEO Compensation to Support Growth
• Negative Sentiment: Insider and institutional selling — recent filings show extensive insider sales (CEO, CFO and others) and large institutional portfolio reductions by some funds, which can weigh on sentiment and provide supply into rallies. D‑Wave Quantum (QBTS) jumps 9.1% as investors react to Europe event news and a broader quantum‑stock bid ahead of earnings

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating on the stock. Needham & Company LLC cut their price objective on shares of D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $35.00 price objective on shares of D-Wave Quantum in a research report on Friday, January 23rd. Northland Securities assumed coverage on shares of D-Wave Quantum in a research report on Monday, April 20th. They issued a “market perform” rating and a $22.00 price objective on the stock. Finally, Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.53.

D-Wave Quantum Stock Performance

The company has a market cap of $8.82 billion, a PE ratio of -21.68 and a beta of 1.95. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $17.51 and its two-hundred day simple moving average is $23.21.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The company had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $3.74 million. D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.D-Wave Quantum’s revenue was up 21.7% on a year-over-year basis. As a group, research analysts anticipate that D-Wave Quantum Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, VP Sophie C. Ames sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.35, for a total transaction of $65,544.50. Following the sale, the vice president owned 643,678 shares of the company’s stock, valued at approximately $13,742,525.30. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the sale, the director directly owned 19,803 shares in the company, valued at approximately $356,652.03. This represents a 28.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,776 shares of company stock worth $574,571 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of D-Wave Quantum

Several large investors have recently bought and sold shares of QBTS. Root Financial Partners LLC lifted its stake in D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after acquiring an additional 776 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $28,000. PeakShares LLC acquired a new stake in D-Wave Quantum during the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in D-Wave Quantum by 267.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after acquiring an additional 838 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in D-Wave Quantum during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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.