D-Wave Quantum (NYSE:QBTS) Research Coverage Started at Evercore ISI

Evercore ISI initiated coverage on shares of D-Wave Quantum (NYSE:QBTS) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $44.00 price objective on the stock.

A number of other equities analysts have also commented on the company. Cantor Fitzgerald raised their price target on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. B. Riley raised their target price on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Rosenblatt Securities lifted their target price on D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 7th. Stifel Nicolaus started coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, Piper Sandler raised their price objective on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and an average target price of $29.85.

D-Wave Quantum Price Performance

QBTS opened at $26.97 on Wednesday. The firm has a 50-day moving average price of $29.60 and a 200-day moving average price of $21.67. D-Wave Quantum has a twelve month low of $3.71 and a twelve month high of $46.75. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of -19.98 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The company had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.03 million. The firm’s revenue for the quarter was up 105.6% on a year-over-year basis. Equities analysts expect that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 168,102 shares of D-Wave Quantum stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the completion of the sale, the chief executive officer owned 2,633,163 shares of the company’s stock, valued at $61,010,386.71. The trade was a 6.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $25.05, for a total value of $2,505,000.00. Following the completion of the transaction, the chief financial officer owned 1,482,874 shares of the company’s stock, valued at $37,145,993.70. The trade was a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,486,813 shares of company stock valued at $39,555,326. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Reyes Financial Architecture Inc. purchased a new stake in shares of D-Wave Quantum in the 2nd quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new stake in D-Wave Quantum in the second quarter worth $29,000. Ancora Advisors LLC bought a new stake in D-Wave Quantum in the third quarter worth $30,000. Financial Consulate Inc. purchased a new stake in D-Wave Quantum during the third quarter valued at about $31,000. Finally, Parallel Advisors LLC grew its stake in shares of D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after buying an additional 1,532 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

About D-Wave Quantum

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.