Quantum Computing Inc. (NASDAQ:QUBT) Stock Has Consensus Target Price of $18.67 According to Analysts

Key Points

• Analyst consensus is “Hold” for Quantum Computing, with four buy, two hold and one sell rating. The average 12-month price target is $18.67.
• QUBT shares opened at $6.93 and have fallen 6.9%, trading below both their 50-day and 200-day moving averages. The stock has a 12-month range of $6.18 to $23.79 and a market capitalization of approximately $1.57 billion.
• The company reported a quarterly loss of $0.05 per share, missing estimates by $0.02, while revenue of $5.55 million exceeded expectations. Institutional ownership remains limited at 4.26%, despite new stakes and increased positions from several large investors.

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) have earned a consensus recommendation of "Hold" from the seven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.67.

Several equities analysts have recently commented on QUBT shares. Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quantum Computing in a research note on Monday, September 21st. Wedbush began coverage on shares of Quantum Computing in a report on Monday, August 3rd. They issued a "neutral" rating and a $12.00 price target on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $10.00 price target on shares of Quantum Computing in a research note on Tuesday, August 11th. Finally, Lake Street Capital reissued a "buy" rating on shares of Quantum Computing in a report on Monday, July 6th.

Quantum Computing Trading Down 6.9%

Shares of QUBT opened at $6.93 on Tuesday. The business's 50 day moving average is $8.38 and its 200 day moving average is $8.92. Quantum Computing has a 12-month low of $6.18 and a 12-month high of $23.79. The company has a market capitalization of $1.57 billion, a PE ratio of -98.99 and a beta of 3.75.

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 the consensus estimate of ($0.03) by ($0.02). The business had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. Equities research analysts predict that Quantum Computing will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Quantum Computing in the second quarter worth approximately $172,020,000. Bank of New York Mellon Corp bought a new stake in shares of Quantum Computing during the second quarter worth $19,164,000. Van ECK Associates Corp lifted its position in shares of Quantum Computing by 35.6% during the second quarter. Van ECK Associates Corp now owns 1,317,352 shares of the company's stock worth $12,778,000 after purchasing an additional 345,750 shares during the last quarter. Pacific Heights Asset Management LLC purchased a new stake in shares of Quantum Computing during the second quarter valued at $9,700,000. Finally, Focus Financial Network Inc. boosted its stake in shares of Quantum Computing by 402.6% during the second quarter. Focus Financial Network Inc. now owns 911,635 shares of the company's stock valued at $8,843,000 after purchasing an additional 730,240 shares during the period. 4.26% of the stock is owned by institutional investors.

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.

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