Needham & Company LLC Has Lowered Expectations for D-Wave Quantum (NASDAQ:QBTS) Stock Price

D-Wave Quantum (NASDAQ:QBTS) had its price objective lowered by stock analysts at Needham & Company LLC from $40.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s price target would suggest a potential upside of 90.84% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of D-Wave Quantum from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. Wedbush assumed coverage on shares of D-Wave Quantum in a research report on Monday, August 3rd. They issued an “outperform” rating and a $40.00 target price on the stock. Stifel Nicolaus cut their target price on shares of D-Wave Quantum from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of D-Wave Quantum in a research report on Thursday, August 20th. They set an “outperform” rating and a $35.00 price target for the company. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

D-Wave Quantum Stock Performance

NASDAQ QBTS opened at $10.48 on Wednesday. The firm has a market capitalization of $3.88 billion, a P/E ratio of -14.76 and a beta of 2.35. D-Wave Quantum has a fifty-two week low of $8.48 and a fifty-two week high of $32.39. The stock has a 50-day simple moving average of $14.34 and a two-hundred day simple moving average of $18.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.42 and a current ratio of 20.55.

D-Wave Quantum (NASDAQ:QBTS) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%. The firm had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $4.37 million. During the same period last year, the company posted ($0.41) earnings per share. On average, equities analysts forecast that D-Wave Quantum will post -0.50 earnings per share for the current year.

Institutional Trading of D-Wave Quantum

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of D-Wave Quantum by 39.7% during the third quarter. Private Advisor Group LLC now owns 67,706 shares of the company’s stock valued at $1,122,000 after acquiring an additional 19,252 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of D-Wave Quantum by 7.0% during the third quarter. Voya Investment Management LLC now owns 1,161,501 shares of the company’s stock worth $19,246,000 after purchasing an additional 76,350 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of D-Wave Quantum by 36.5% during the third quarter. Bogart Wealth LLC now owns 4,065 shares of the company’s stock worth $67,000 after purchasing an additional 1,086 shares during the last quarter. Cibc World Market Inc. lifted its position in D-Wave Quantum by 28.5% during the third quarter. Cibc World Market Inc. now owns 78,228 shares of the company’s stock worth $1,296,000 after buying an additional 17,339 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in D-Wave Quantum in the 3rd quarter worth about $340,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Key Stories Impacting D-Wave Quantum

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

• Positive Sentiment: Revenue increased 21% year over year to $4.51 million, topping estimates. Nine-month bookings rose 611% to $37.4 million, while remaining performance obligations reached $38.3 million. D-Wave also reported $503.4 million in cash and investments and an agreement for access to up to $100 million in conditional CHIPS Act funding. D-Wave Reports Third Quarter 2026 Results
• Negative Sentiment: The company reported a quarterly loss of $0.13 per share, wider than the roughly $0.10 loss analysts expected, and a $48.2 million net loss. Operating expenses were $55.9 million, intensifying investor concern about cash burn despite the revenue beat. D Wave Quantum Stock Sinks As Q3 Results Expose Cash Burn
• Negative Sentiment: Third-quarter bookings fell about 19% year over year to $1.9 million, and reports noted weaker system sales. The nine-month bookings surge may not signal broad, steady demand: coverage says it was heavily influenced by a large university system sale, raising questions about the repeatability of growth. D-Wave Sinks as Q3 Loss Misses and Quarterly Bookings Fall
• Negative Sentiment: B. Riley cut its price target from $27 to $22, though it maintained a Buy rating. Separately, a securities class action has been filed alleging misstatements; the allegations are not proven, but the litigation adds uncertainty. B. Riley Financial Issues Pessimistic Forecast for D-Wave Quantum Class action announcement

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.