In the preceding three months, 13 analysts have released ratings for D-Wave Quantum (NYSE:QBTS), presenting a wide array of perspectives from bullish to bearish.

The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.

	Bullish	Somewhat Bullish	Indifferent	Somewhat Bearish	Bearish
Total Ratings	9	4	0	0	0
Last 30D	1	0	0	0	0
1M Ago	4	0	0	0	0
2M Ago	1	3	0	0	0
3M Ago	3	1	0	0	0

Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $41.15, a high estimate of $48.00, and a low estimate of $35.00. This current average has increased by 25.11% from the previous average price target of $32.89.

Diving into Analyst Ratings: An In-Depth Exploration

The standing of D-Wave Quantum among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst	Analyst Firm	Action Taken	Rating	Current Price Target	Prior Price Target
John McPeake	Rosenblatt	Maintains	Buy	$43.00	$43.00
David Williams	Benchmark	Maintains	Buy	$35.00	$35.00
N. Quinn Bolton	Needham	Maintains	Buy	$48.00	$48.00
John McPeake	Rosenblatt	Raises	Buy	$43.00	$40.00
John McPeake	Rosenblatt	Maintains	Buy	$40.00	$40.00
Antoine Legault	Wedbush	Announces	Outperform	$35.00	-
Kevin Garrigan	Jefferies	Announces	Buy	$45.00	-
Vijay Rakesh	Mizuho	Announces	Outperform	$46.00	-
Mark Lipacis	Evercore ISI Group	Announces	Outperform	$44.00	-
David Williams	Benchmark	Raises	Buy	$35.00	$20.00
Kingsley Crane	Canaccord Genuity	Raises	Buy	$41.00	$20.00
Troy Jensen	Cantor Fitzgerald	Raises	Overweight	$40.00	$20.00
John McPeake	Rosenblatt	Raises	Buy	$40.00	$30.00

Key Insights:

• Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to D-Wave Quantum. This information provides a snapshot of how analysts perceive the current state of the company.
• Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of D-Wave Quantum compared to the broader market.
• Price Targets: Analysts predict movements in price targets, offering estimates for D-Wave Quantum's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.

Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of D-Wave Quantum's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.

Stay up to date on D-Wave Quantum analyst ratings.

Delving into D-Wave Quantum's Background

D-Wave Quantum Inc is in the development and delivery of quantum computing systems, software, and services, and it is the commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers. It delivers customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. Its annealing quantum computers are accessible through the company's LeapTM cloud service.

Financial Insights: D-Wave Quantum

Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.

Positive Revenue Trend: Examining D-Wave Quantum's financials over 3M reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 99.95% as of 30 September, 2025, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.

Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -3743.94%, the company may need to address challenges in effective cost control.

Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -20.51%, the company may need to address challenges in generating satisfactory returns for shareholders.

Return on Assets (ROA): D-Wave Quantum's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -16.38%, the company may face hurdles in achieving optimal financial performance.

Debt Management: D-Wave Quantum's debt-to-equity ratio is below the industry average. With a ratio of 0.06, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.

What Are Analyst Ratings?

Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.

Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.

Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.

This article was generated by Benzinga's automated content engine and reviewed by an editor.