Rosenblatt Securities Reaffirms Buy Rating for Quantum Computing (NASDAQ:QUBT)

Key Points

• Rosenblatt Securities reaffirmed its Buy rating on Quantum Computing and set a $22 price target, implying approximately 245.9% upside from the stock’s $6.36 price.
• Analyst sentiment is mixed overall: four analysts rate QUBT a Buy, two rate it Hold, and one rates it Sell, resulting in a consensus Hold rating and an average target price of $18.67.
• Quantum Computing reported a quarterly loss of $0.05 per share, missing estimates by $0.02, although revenue of $5.55 million exceeded expectations; institutional investors own 4.26% of the company.

Quantum Computing (NASDAQ:QUBT - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $22.00 price target on the stock. Rosenblatt Securities' target price points to a potential upside of 245.91% from the company's current price.

Other research analysts also recently issued research reports about the company. Lake Street Capital reissued a "buy" rating on shares of Quantum Computing in a research note on Monday, July 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $10.00 price target on shares of Quantum Computing in a research note on Tuesday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum Computing in a research note on Monday, September 21st. Wedbush started coverage on Quantum Computing in a research note on Monday, August 3rd. They issued a "neutral" rating and a $12.00 price target on the stock. Finally, Ascendiant Capital Markets increased their price target on Quantum Computing from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, August 26th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.67.

Quantum Computing Stock Performance

Shares of QUBT opened at $6.36 on Monday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -90.84 and a beta of 3.75. The business's fifty day moving average price is $8.19 and its two-hundred day moving average price is $8.92. Quantum Computing has a 52 week low of $6.08 and a 52 week high of $19.11.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to the consensus estimate of $5.15 million. As a group, research analysts forecast that Quantum Computing will post -0.19 EPS for the current year.

Institutional Trading of Quantum Computing

Several hedge funds have recently added to or reduced their stakes in QUBT. State of Wyoming bought a new position in Quantum Computing during the second quarter worth about $29,000. Northwestern Mutual Wealth Management Co. bought a new position in Quantum Computing during the second quarter worth about $29,000. MCF Advisors LLC bought a new position in Quantum Computing during the second quarter worth about $29,000. EFG International AG bought a new position in Quantum Computing during the second quarter worth about $48,000. Finally, Decker Retirement Planning Inc. bought a new position in Quantum Computing during the second quarter worth about $58,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Quantum Computing Company Profile

Quantum Computing, Inc NASDAQ: QUBT, also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.

QCi's offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.