D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) has been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.38.
QBTS has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $20.00 price objective on the stock. Benchmark restated a “buy” rating and issued a $20.00 target price (up from $14.00) on shares of D-Wave Quantum in a research note on Tuesday, June 17th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $13.00) on shares of D-Wave Quantum in a report on Wednesday, June 18th. Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a report on Wednesday, June 18th. Finally, Roth Capital reaffirmed a “buy” rating on shares of D-Wave Quantum in a report on Friday, June 13th.
Get Our Latest Report on D-Wave Quantum
Insider Buying and Selling
Hedge Funds Weigh In On D-Wave Quantum
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of D-Wave Quantum by 40.9% in the 4th quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company’s stock worth $1,845,000 after acquiring an additional 63,799 shares during the last quarter. Jones Financial Companies Lllp increased its stake in D-Wave Quantum by 341.7% during the 4th quarter. Jones Financial Companies Lllp now owns 23,688 shares of the company’s stock worth $199,000 after buying an additional 18,325 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of D-Wave Quantum by 38.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,060 shares of the company’s stock valued at $110,000 after purchasing an additional 3,660 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of D-Wave Quantum by 40.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 321,284 shares of the company’s stock valued at $2,699,000 after purchasing an additional 91,721 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of D-Wave Quantum by 55.1% in the 4th quarter. Victory Capital Management Inc. now owns 29,399 shares of the company’s stock valued at $247,000 after purchasing an additional 10,444 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.
D-Wave Quantum Stock Performance
D-Wave Quantum stock opened at $14.80 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61. D-Wave Quantum has a 1-year low of $0.75 and a 1-year high of $19.77. The firm has a market capitalization of $4.32 billion, a P/E ratio of -24.67 and a beta of 1.40. The company’s 50-day moving average is $14.95 and its 200 day moving average is $9.68.
D-Wave Quantum (NYSE:QBTS – Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. Research analysts forecast that D-Wave Quantum will post -0.41 EPS for the current year.
D-Wave Quantum Company Profile
D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.
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