Jefferies has initiated coverage on D-Wave Quantum Inc (QBTS) with a Buy rating, marking its first assessment of the company’s investment potential. This decision reflects the firm’s analysis of D-Wave's business model, industry dynamics, and growth opportunities.
D-Wave Quantum, headquartered in Palo Alto, California, specializes in the development and delivery of quantum computing systems, software, and services. The company builds and provides cloud services and professional tools to support the quantum computing journey for enterprises and developers. Its offerings include the Leap quantum cloud service, which grants real-time access to quantum computers, and the Advantage quantum system designed for business applications.
As of December 15, 2025, D-Wave's stock price stands at $25.92, and the company boasts a market capitalization of $8.3 billion. Despite its innovative solutions, D-Wave has faced challenges, with a trailing twelve-month earnings per share (EPS) of -1.35. Recent earnings reports show fluctuations, with a surprise EPS of -0.05 in Q3 2025, exceeding estimates.
Analyst ratings, such as this new Buy designation from Jefferies, provide valuable insights but are based on assumptions that may change over time. Investors should consider a range of factors, including company fundamentals and industry trends, when making decisions. Currently, analyst consensus stands at 3 Strong Buy, 12 Buy, 1 Hold, and 1 Sell, indicating overall positive sentiment toward D-Wave Quantum Inc.
This update provides insight into D-Wave's market position as it continues to innovate in the technology sector.