D-Wave Quantum Inc. (NASDAQ:QBTS) Stock Has Average Price Target of $36.27

Key Points

• Analysts hold a “Moderate Buy” consensus on D-Wave Quantum, with 13 buy ratings, two holds and one sell. The average 12-month price target is $36.27, with recent targets ranging from $30 to $40.
• D-Wave shares opened at $15.77, well below their one-year high of $46.75. The company reported a quarterly loss of $0.10 per share and revenue of $3.08 million, missing analyst expectations for both.
• Institutional investors own 42.47% of the stock, while insiders own 1.30%. A company vice president sold 3,070 shares under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Inc. (NASDAQ:QBTS - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $36.27.

A number of equities analysts have recently commented on QBTS shares. Wedbush began coverage on shares of D-Wave Quantum in a report on Monday, August 3rd. They set an "outperform" rating and a $40.00 price target on the stock. Jefferies Financial Group set a $40.00 price objective on D-Wave Quantum in a report on Friday, August 7th. Roth Capital reaffirmed a "buy" rating and set a $30.00 target price on shares of D-Wave Quantum in a research report on Thursday, August 6th. Mizuho lifted their target price on D-Wave Quantum from $29.00 to $35.00 and gave the stock an "outperform" rating in a report on Monday, June 15th. Finally, Weiss Ratings upgraded D-Wave Quantum from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 28th.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $15.77 on Friday. The business has a 50 day moving average of $18.14 and a 200-day moving average of $19.79. The company has a market capitalization of $5.83 billion, a P/E ratio of -22.21 and a beta of 2.18. D-Wave Quantum has a 1 year low of $12.75 and a 1 year high of $46.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The business had revenue of $3.08 million for the quarter, compared to analyst estimates of $4.03 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The firm's quarterly revenue was down 0.6 on a year-over-year basis. On average, equities research analysts predict that D-Wave Quantum will post -0.46 earnings per share for the current year.

Insider Activity at D-Wave Quantum

In related news, VP Sophie Ames sold 3,070 shares of D-Wave Quantum stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $16.95, for a total value of $52,036.50. Following the transaction, the vice president directly owned 589,009 shares of the company's stock, valued at $9,983,702.55. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of D-Wave Quantum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QBTS. Tidal Investments LLC bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $372,000. Archford Capital Strategies LLC bought a new stake in D-Wave Quantum in the second quarter worth approximately $200,000. WINTON GROUP Ltd acquired a new position in D-Wave Quantum in the second quarter valued at approximately $6,720,000. NorthRock Partners LLC bought a new position in shares of D-Wave Quantum during the 2nd quarter worth approximately $359,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of D-Wave Quantum by 18.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,136 shares of the company's stock worth $411,000 after buying an additional 2,640 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Company Profile

D-Wave Quantum Inc is a quantum-computing company that develops and delivers quantum systems, software and cloud-based services for commercial, government and research customers. The company focuses on quantum annealing, an approach designed to address complex optimization problems, and is also developing gate-model quantum-computing capabilities.

Its offerings include D-Wave quantum computers, the Leap quantum cloud service, and the Ocean software development kit. Through these products, customers can access quantum hardware, build and test applications, and combine quantum processing with classical computing through hybrid solvers.

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