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

D-Wave Quantum Inc. (NYSE:QBTS) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $36.50.

A number of research analysts have weighed in on QBTS shares. Canaccord Genuity Group set a $43.00 price objective on shares of D-Wave Quantum in a report on Thursday, January 29th. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of D-Wave Quantum in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Monday, December 29th. TD Cowen began coverage on D-Wave Quantum in a research note on Thursday, February 12th. They issued a “buy” rating for the company. Finally, Roth Mkm reduced their price target on D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th.

Insider Activity

In other news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the completion of the transaction, the director directly owned 19,803 shares of the company’s stock, valued at $356,652.03. This represents a 28.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John M. Markovich sold 9,179 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total value of $257,562.74. Following the transaction, the chief financial officer owned 1,462,133 shares in the company, valued at $41,027,451.98. This trade represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 945,904 shares of company stock worth $28,301,650 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QBTS. Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 41.2% in the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after buying an additional 11,218,255 shares during the last quarter. UBS Group AG raised its holdings in shares of D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after acquiring an additional 10,205,427 shares during the last quarter. Marex Group plc purchased a new position in shares of D-Wave Quantum in the second quarter valued at approximately $80,070,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of D-Wave Quantum by 136,842.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company’s stock valued at $83,546,000 after acquiring an additional 3,192,533 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of D-Wave Quantum in the second quarter worth approximately $45,372,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Trading Down 0.4%

D-Wave Quantum stock opened at $17.48 on Tuesday. The firm has a market cap of $6.46 billion, a PE ratio of -15.89 and a beta of 1.61. D-Wave Quantum has a 12 month low of $5.77 and a 12 month high of $46.75. The stock’s 50 day simple moving average is $22.20 and its two-hundred day simple moving average is $25.19. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The firm had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $3.74 million. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. Analysts anticipate that D-Wave Quantum will post -0.41 earnings per share for the current year.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.