D-Wave Quantum Inc. (NYSE:QBTS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of D-Wave Quantum Inc. (NYSE:QBTS) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $28.6667.

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. B. Riley upped their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Stifel Nicolaus began coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They set a “buy” rating and a $26.00 price target for the company. Williams Trading set a $35.00 price target on shares of D-Wave Quantum in a research report on Monday. Finally, Roth Capital set a $40.00 price objective on shares of D-Wave Quantum in a research note on Thursday, November 6th.

D-Wave Quantum Stock Performance

Shares of QBTS opened at $28.86 on Wednesday. The company has a market capitalization of $9.87 billion, a PE ratio of -21.38 and a beta of 1.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. D-Wave Quantum has a one year low of $1.41 and a one year high of $46.75. The company’s fifty day moving average price is $28.63 and its 200 day moving average price is $20.05.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. The business’s revenue for the quarter was up 105.6% compared to the same quarter last year. As a group, analysts expect that D-Wave Quantum will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other D-Wave Quantum news, CFO John M. Markovich sold 7,994 shares of the company’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total transaction of $349,657.56. Following the transaction, the chief financial officer owned 1,580,934 shares of the company’s stock, valued at approximately $69,150,053.16. This represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 31,369 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total value of $1,372,080.06. Following the completion of the transaction, the chief executive officer owned 2,801,265 shares in the company, valued at $122,527,331.10. The trade was a 1.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 107,363 shares of company stock valued at $2,859,478. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its holdings in D-Wave Quantum by 123.8% during the second quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock worth $217,000 after buying an additional 8,194 shares during the last quarter. World Investment Advisors acquired a new stake in D-Wave Quantum in the second quarter valued at $190,000. Farther Finance Advisors LLC grew its position in shares of D-Wave Quantum by 491.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company’s stock valued at $239,000 after acquiring an additional 13,561 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth about $217,000. Finally, Bouvel Investment Partners LLC acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth about $2,145,000. 42.47% of the stock is owned by institutional investors.

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.