Quantum Computing Inc. (NASDAQ:QUBT) Receives $18.00 Consensus Price Target from Analysts

Quantum Computing Inc. (NASDAQ:QUBT) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.00.

Several research firms have recently weighed in on QUBT. Lake Street Capital cut their price objective on Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a report on Thursday, December 18th. Rosenblatt Securities initiated coverage on shares of Quantum Computing in a report on Thursday, January 15th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Ascendiant Capital Markets cut their price objective on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd.

Quantum Computing Stock Up 20.7%

Shares of QUBT stock opened at $9.43 on Thursday. Quantum Computing has a 12-month low of $4.37 and a 12-month high of $25.84. The firm has a fifty day moving average of $11.32 and a 200-day moving average of $14.43. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -15.46 and a beta of 3.44.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.12 million.

Insider Activity at Quantum Computing

In other news, COO Milan Begliarbekov sold 2,860 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares in the company, valued at $287,244. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 19.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quantum Computing

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in shares of Quantum Computing during the 3rd quarter worth approximately $123,014,000. Vanguard Group Inc. boosted its holdings in Quantum Computing by 38.1% during the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock worth $172,793,000 after purchasing an additional 4,643,818 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in Quantum Computing in the third quarter valued at $74,194,000. Geode Capital Management LLC increased its stake in Quantum Computing by 116.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock valued at $50,433,000 after buying an additional 1,416,928 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its position in Quantum Computing by 72.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company’s stock worth $48,643,000 after buying an additional 1,127,427 shares in the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Company Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.