D-Wave Quantum (NASDAQ:QBTS) Stock Price Target Lowered at Canaccord Genuity Group

D-Wave Quantum (NASDAQ:QBTS) had its price target reduced by Canaccord Genuity Group from $35.00 to $31.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Mizuho set a $23.00 target price on D-Wave Quantum in a report on Tuesday. BMO Capital Markets assumed coverage on D-Wave Quantum in a research note on Thursday, August 20th. They issued an “outperform” rating and a $35.00 price objective on the stock. Wedbush assumed coverage on shares of D-Wave Quantum in a research note on Monday, August 3rd. They set an “outperform” rating and a $40.00 target price on the stock. Needham & Company LLC lowered their price target on D-Wave Quantum from $40.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, B. Riley Financial cut their price objective on D-Wave Quantum from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Monday. Fourteen research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.71.

D-Wave Quantum Stock Performance

Shares of NASDAQ QBTS opened at $10.65 on Wednesday. The firm has a 50 day moving average of $14.22 and a 200 day moving average of $18.68. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -24.77 and a beta of 2.35. D-Wave Quantum has a 12-month low of $8.48 and a 12-month high of $32.39.

D-Wave Quantum (NASDAQ:QBTS) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $4.51 million during the quarter, compared to the consensus estimate of $4.37 million. D-Wave Quantum had a negative return on equity of 15.39% and a negative net margin of 1,188.79%. During the same quarter in the previous year, the business posted ($0.41) earnings per share. On average, research analysts anticipate that D-Wave Quantum will post -0.50 earnings per share for the current year.

Institutional Trading of D-Wave Quantum

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in D-Wave Quantum during the 2nd quarter valued at $795,206,000. Bank of America Corp DE bought a new position in shares of D-Wave Quantum during the 2nd quarter worth $104,183,000. Van ECK Associates Corp increased its stake in shares of D-Wave Quantum by 52.6% during the second quarter. Van ECK Associates Corp now owns 2,339,788 shares of the company’s stock valued at $56,132,000 after buying an additional 806,835 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of D-Wave Quantum in the second quarter valued at about $54,951,000. Finally, Wellington Management Group LLP raised its holdings in shares of D-Wave Quantum by 372.2% in the second quarter. Wellington Management Group LLP now owns 1,820,070 shares of the company’s stock valued at $43,663,000 after acquiring an additional 1,434,657 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Top D-Wave Quantum Stories

Investors following QBTS have been watching these stories:

• Neutral Sentiment: Conditional federal funding and a sizable cash balance support execution. The company reported $503.4 million in cash and marketable securities and an agreement for access to up to $100 million in CHIPS Act funding, subject to milestones and other conditions. D-Wave funding and bookings report
• Negative Sentiment: Quarterly results raised concerns about profitability and near-term demand. Q3 revenue grew 21% to $4.51 million and beat estimates, but the loss per share was worse than expected. Quarterly bookings fell about 19% year over year to $1.9 million, while operating expenses and cash burn remain investor concerns. D-Wave Q3 results and cash-burn analysis
• Negative Sentiment: Class-action litigation remains an overhang. Multiple law firms publicized a pending securities class action alleging misleading statements about the company’s prospects; investors have until December 15, 2026, to seek lead-plaintiff status. The allegations have not been established in court. Class-action deadline notice

About D-Wave Quantum

D-Wave Quantum develops quantum computing systems, software and services for commercial, government and research users. The company focuses on quantum annealing, an approach designed to help solve complex optimization and sampling problems, and offers hybrid tools that combine quantum processing with classical computing. Its offerings include Advantage quantum computers, the Leap quantum cloud service, and software for building and running applications. D-Wave’s technology is used to explore challenges such as scheduling, resource allocation and supply-chain optimization.