D-Wave Quantum Inc. (NYSE:QBTS) Given Average Recommendation of "Buy" by Analysts

Key Points

• D-Wave Quantum Inc. has received an average recommendation of "Buy" from eleven research firms, indicating strong analyst support for the stock.
• Recent price target increases include B. Riley raising it from $22.00 to $33.00 and Piper Sandler increasing it from $13.00 to $22.00.
• The company's reported revenue for the last quarter was $3.10 million, exceeding analysts' expectations and showing a 40.9% increase compared to the same period last year.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) has received an average recommendation of "Buy" from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.2727.

Several equities research analysts have recently weighed in on the company. B. Riley increased their price target on D-Wave Quantum from $22.00 to $33.00 and gave the stock a "buy" rating in a report on Monday. Piper Sandler raised their price objective on D-Wave Quantum from $13.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Canaccord Genuity Group started coverage on D-Wave Quantum in a report on Wednesday, July 23rd. They set a "buy" rating and a $20.00 price objective on the stock. Cantor Fitzgerald started coverage on D-Wave Quantum in a report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on D-Wave Quantum in a report on Tuesday, August 5th. They set a "buy" rating and a $26.00 price objective on the stock.

D-Wave Quantum Price Performance

NYSE:QBTS opened at $25.65 on Tuesday. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $8.77 billion, a P/E ratio of -24.42 and a beta of 1.40. D-Wave Quantum has a 12 month low of $0.87 and a 12 month high of $27.33. The business's 50-day moving average is $17.59 and its 200 day moving average is $13.67.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The company had revenue of $3.10 million for the quarter, compared to analysts' expectations of $2.55 million. The business's revenue was up 40.9% compared to the same quarter last year. On average, equities research analysts forecast that D-Wave Quantum will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 50,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $16.30, for a total transaction of $815,000.00. Following the sale, the chief financial officer owned 1,599,511 shares of the company's stock, valued at approximately $26,072,029.30. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, the director directly owned 47,778 shares in the company, valued at $856,659.54. This trade represents a 17.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,000 shares of company stock valued at $2,937,740. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of D-Wave Quantum

Institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. boosted its position in shares of D-Wave Quantum by 786.8% in the 1st quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock worth $842,000 after purchasing an additional 98,350 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of D-Wave Quantum in the 1st quarter worth $167,000. Swiss National Bank purchased a new position in D-Wave Quantum in the 1st quarter worth $3,532,000. Bouvel Investment Partners LLC purchased a new position in D-Wave Quantum in the 2nd quarter worth $2,145,000. Finally, Verity Asset Management Inc. purchased a new position in D-Wave Quantum in the 1st quarter worth $251,000. Institutional investors and hedge funds own 42.47% of the company's stock.

About D-Wave Quantum

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.

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