IQM Quantum Computers (NASDAQ:IQMX) Stock Has Consensus Price Target of $16.44 According to Analysts

Key Points

• Analyst consensus is “Hold” for IQM Quantum Computers, based on five brokerages: two buy ratings, two holds and one sell. The average 12-month price target is $16.44, above the reported opening price of $10.45.
• Recent coverage has been mixed, ranging from TD Cowen’s buy rating to sell ratings from Weiss Ratings and Wall Street Zen; Rothschild & Co Redburn assigned a neutral rating with a $12.88 target.
• IQM reported a quarterly loss of $1.37 per share on $7.77 million in revenue, while analysts expect a full-year loss of approximately $3.30 per share.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) has earned an average recommendation of "Hold" from the five brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $16.44.

A number of brokerages have recently issued reports on IQMX. TD Cowen initiated coverage on IQM Quantum Computers in a research note on Friday, October 2nd. They set a "buy" rating on the stock. Rothschild & Co Redburn initiated coverage on IQM Quantum Computers in a research note on Monday, July 27th. They issued a "neutral" rating and a $12.88 target price for the company. Zacks Research upgraded IQM Quantum Computers to a "hold" rating in a report on Tuesday. Weiss Ratings started coverage on IQM Quantum Computers in a research report on Friday, September 25th. They set a "sell (d)" rating on the stock. Finally, Wall Street Zen cut IQM Quantum Computers from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd.

IQM Quantum Computers Price Performance

Shares of IQM Quantum Computers stock opened at $10.45 on Thursday. IQM Quantum Computers has a 52-week low of $8.74 and a 52-week high of $15.10. The firm has a fifty day simple moving average of $10.15.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) EPS for the quarter. The company had revenue of $7.77 million for the quarter. As a group, equities research analysts forecast that IQM Quantum Computers will post -3.3 EPS for the current year.

IQM Quantum Computers Company Profile

IQM Quantum Computers is a Finland-based quantum computing company that develops superconducting quantum processors and complete quantum computing systems. Its technology is designed for use by research institutions, universities, high-performance computing centers and commercial organizations exploring applications such as simulation, optimization and machine learning.

The company provides quantum hardware, system integration and related software and services. Its offerings support both on-premises installations and access through cloud-based environments, allowing customers to develop and run quantum algorithms alongside conventional computing resources.

Founded in 2018 by a group of quantum technology researchers and entrepreneurs, IQM has expanded its operations across Europe, including activities in Finland, Germany, France, Spain and Poland.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.