Fintel reports that on December 16, 2025, Jefferies initiated coverage of D-Wave Quantum (NYSE:QBTS) with a Buy recommendation.
Analyst Price Forecast Suggests 48.14% Upside
As of December 5, 2025, the average one-year price target for D-Wave Quantum is $37.81/share. The forecasts range from a low of $26.04 to a high of $50.40. The average price target represents an increase of 48.14% from its latest reported closing price of $25.52 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for D-Wave Quantum is 117MM, an increase of 384.10%. The projected annual non-GAAP EPS is -0.45.
What is the Fund Sentiment?
There are 648 funds or institutions reporting positions in D-Wave Quantum. This is an increase of 113 owner(s) or 21.12% in the last quarter. Average portfolio weight of all funds dedicated to QBTS is 0.09%, an increase of 20.02%. Total shares owned by institutions increased in the last three months by 14.94% to 203,295K shares. 
The put/call ratio of QBTS is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
D. E. Shaw holds 13,648K shares representing 3.94% ownership of the company. In its prior filing, the firm reported owning 12,701K shares , representing an increase of 6.94%. The firm increased its portfolio allocation in QBTS by 44.41% over the last quarter.
UBS Group holds 12,090K shares representing 3.49% ownership of the company. In its prior filing, the firm reported owning 1,884K shares , representing an increase of 84.41%. The firm increased its portfolio allocation in QBTS by 79.72% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,827K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 6,054K shares , representing an increase of 31.42%. The firm increased its portfolio allocation in QBTS by 150.62% over the last quarter.
Geode Capital Management holds 7,528K shares representing 2.17% ownership of the company. In its prior filing, the firm reported owning 6,412K shares , representing an increase of 14.83%. The firm decreased its portfolio allocation in QBTS by 3.82% over the last quarter.
IWM - iShares Russell 2000 ETF holds 7,144K shares representing 2.06% ownership of the company. In its prior filing, the firm reported owning 4,826K shares , representing an increase of 32.45%. The firm increased its portfolio allocation in QBTS by 187.92% over the last quarter.
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