Ascendiant Capital Markets Has Lowered Expectations for Quantum Computing (NASDAQ:QUBT) Stock Price

Key Points

• Ascendiant Capital Markets lowered its price target on Quantum Computing from $40 to $25 while maintaining a "buy" rating, implying roughly a 129.6% upside from the current share price (~$10.89).
• Analyst coverage is mixed—two Buy, two Hold and one Sell—resulting in a consensus "Hold" rating and a consensus target price of $17.
• Quantum reported quarterly EPS of ($0.05) (in line with estimates) and $0.38M in revenue, has a market cap of $2.44B, and only about 4.26% institutional ownership, indicating modest revenue and limited institutional backing.

Quantum Computing (NASDAQ:QUBT - Get Free Report) had its price objective reduced by research analysts at Ascendiant Capital Markets from $40.00 to $25.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Ascendiant Capital Markets' price objective would indicate a potential upside of 129.57% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Wedbush started coverage on shares of Quantum Computing in a report on Wednesday. They set a "neutral" rating and a $12.00 price objective on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $15.00 target price on shares of Quantum Computing in a research report on Thursday. Lake Street Capital dropped their price target on Quantum Computing from $24.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, November 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum Computing in a research note on Monday, December 15th. Finally, Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.00.

Quantum Computing Stock Up 5.3%

Shares of QUBT stock opened at $10.89 on Monday. The firm has a 50 day moving average of $13.52 and a 200-day moving average of $16.13. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -17.85 and a beta of 3.80. Quantum Computing has a 52 week low of $4.37 and a 52 week high of $25.84.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The company had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.12 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Quantum Computing during the second quarter valued at approximately $28,000. Farther Finance Advisors LLC boosted its holdings in Quantum Computing by 724.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company's stock worth $28,000 after acquiring an additional 1,319 shares during the last quarter. Rhumbline Advisers purchased a new position in Quantum Computing during the 1st quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Quantum Computing in the 2nd quarter worth $29,000. Finally, FWL Investment Management LLC purchased a new stake in shares of Quantum Computing in the second quarter valued at about $33,000. Institutional investors own 4.26% of the company's stock.

About Quantum Computing

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.

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