D-Wave Quantum Inc. (QBTS)

D-Wave Quantum shares closed at $10.65, down 2.65% on volume of 13.8 million shares, as a wave of analyst actions dominated the day. Multiple firms reiterated bullish ratings but trimmed price targets, including Canaccord Genuity (Buy, target cut to $31), Evercore ISI (Outperform, target cut to $27), StoneX (Buy, target cut to $20), Rosenblatt (Buy, target cut to $30), and Stifel (Buy, target cut to $23). One analyst highlighted rising interest in D-Wave's system sales as a positive sign for shipments planned in 2027, providing a bullish counterpoint. Despite the lower targets, the reaffirmed Buy/Outperform ratings suggest analysts still see upside from the current price, though the stock's decline reflects near-term caution.

D-Wave Quantum (QBTS) reported its Q3 2026 results, posting a loss of $0.13 per share that came in wider than analysts expected, though revenue of $4.513M topped consensus. The company also disclosed lower Q3 bookings, without providing a reason, and filed a Form 8-K covering the results. Shares fell 5.24% on the day, closing at $10.48 after trading between $10.11 and $11.40 on volume of about 20.9 million shares. The wider-than-expected loss and declining bookings weighed on sentiment, pointing to a bearish near-term direction despite the revenue beat.

D-Wave Quantum announced a multi-year agreement with SkyWater Technology to continue specialized semiconductor process development and manufacturing, extending a key manufacturing alliance. Despite this bullish contract news, QBTS shares closed slightly lower at $13.38, down 0.80% from the open of $13.49, with the stock trading between $13.28 and $13.64 on volume of over 10.4 million shares. The positive contract developments may not have been enough to lift the stock today, but the extended manufacturing partnership signals ongoing operational progress. The direction signal from the news is UP based on the bullish sentiment of the contract announcements.