D-Wave Quantum: Five Brokers Cut Targets, a 611% Bookings Surge and a Sector-Wide Slide
Published on 11/14/2026 at 05:30 | Editorial boerse-global.de
D-Wave Quantum's post-earnings reckoning arrived in force on Wednesday, as a wave of brokerages trimmed their price targets on the quantum-computing specialist while leaving their buy ratings untouched. The stock was down 4.1% in a weak session for the sector, with IonQ, Rigetti Computing and Quantum Computing Inc. also giving ground as selling pressure spread across several names. D-Wave shares were quoted at EUR 8.55.
Rosenblatt's John McPeake cut his target to $30 from $43, pointing to quarterly results that fell short of the firm's expectations and the difficulty of predicting when revenue will be recognized. StoneX followed with a reduction to $20 from $30, citing lower valuations across peer companies after September-quarter results came in below consensus. Canaccord Genuity lowered its target to $31 from $35. Two further research houses trimmed their targets into a range of $23 to $31. All five kept their buy recommendations.
The results themselves, reported Tuesday, tell a story that depends heavily on where you draw the line. Revenue for Q3 2026 came in at $4.5 million, up 21% year over year. Bookings, however, slipped 19% to $1.9 million. Over the first nine months of the year, bookings totaled $37.4 million — an increase of 611% — so the quarterly dip sits alongside a sharp gain over the longer stretch. Remaining performance obligations stood at $38.3 million as of September 30.
Should investors sell immediately? Or is it worth buying D-Wave Quantum?
The bottom line offered little comfort: D-Wave posted a net loss of $48.2 million. On the funding side, the company flagged access to as much as $100.0 million under the CHIPS and Science Act, with the money tied to hitting milestones.
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