Here’s What the Street Thinks About D-Wave Quantum (QBTS) Ahead of FQ1 2026 Earnings

​D-Wave Quantum Inc. (NYSE:QBTS) is set to release its FQ1 2026 earnings on May 12. Wall Street expects the company to post around $4.14 million in quarterly revenue along with a GAAP EPS of negative $0.10. Analysts are bullish on the stock as 15 out of 17 analysts covering the stock have maintained a Buy rating, with their average 12-month price target suggesting more than 85% upside from the current level.

​D-Wave Quantum Inc. (NYSE:QBTS) is also on our list of Best Quantum Computing Stocks to Buy and Hold for 10 Years.

​Recently, on April 22, Northland Capital Markets released a research note saying that Quantum computing is set to displace classical AI infrastructure. The firm’s analyst Chokshi elaborated that the training of large language models happens in high-dimensional spaces, such as 4096 dimensions. This causes parallel optimization problems that classical hardware struggles to handle efficiently. However, quantum computing can offer these solutions as AI demand exceeds traditional computing limits. Northland estimates the quantum sector’s current aggregate enterprise value at $88 billion, with vast growth potential as the technology matures and scales.

Earlier on April 20, Northland Capital Markets had initiated D-Wave Quantum Inc. (NYSE:QBTS) with a Hold rating and a $22 price target.

D-Wave Quantum Inc. (NYSE:QBTS) delivers and develops quantum computing systems, services, and software internationally. It provides Ocean, a suite of open-source tools; Advantage and Advantage 2 quantum computers; Leap quantum cloud service; and secure access and data protection services.

While we acknowledge the potential of QBTS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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