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

Key Points

• D-Wave Quantum Inc. (NYSE:QBTS) has received a consensus rating of "Moderate Buy" from analysts, with two sell ratings and eleven buy ratings reported among thirteen research firms.
• The stock has a current average 12-month price target of $20.27, while recent ratings from analysts include a price objective increase from B. Riley from $22.00 to $33.00.
• Despite reporting a negative net margin of 1,263.92% and missing earnings estimates, D-Wave Quantum's revenue of $3.10 million for the quarter represents a 40.9% increase year-over-year.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and eleven have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $20.2727.

QBTS has been the subject of several research reports. Rosenblatt Securities initiated coverage on D-Wave Quantum in a report on Tuesday, July 29th. They set a "buy" rating and a $30.00 price objective for the company. Wall Street Zen lowered D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Needham & Company LLC reissued a "buy" rating on shares of D-Wave Quantum in a report on Monday, August 4th. Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a report on Wednesday. Finally, B. Riley increased their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the company a "buy" rating in a report on Monday, September 22nd.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $38.22 on Friday. The stock has a fifty day simple moving average of $23.32 and a two-hundred day simple moving average of $16.84. D-Wave Quantum has a 1-year low of $0.98 and a 1-year high of $46.75. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of -36.40 and a beta of 1.49. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum's revenue for the quarter was up 40.9% compared to the same quarter last year. Analysts anticipate that D-Wave Quantum will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO John M. Markovich sold 100,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,558,753 shares of the company's stock, valued at $28,057,554. This trade represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the completion of the transaction, the director directly owned 36,295 shares of the company's stock, valued at $650,769.35. The trade was a 18.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 207,363 shares of company stock valued at $4,659,478 over the last three months. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On D-Wave Quantum

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of D-Wave Quantum by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company's stock worth $46,000 after acquiring an additional 482 shares during the period. Reyes Financial Architecture Inc. bought a new position in shares of D-Wave Quantum in the second quarter worth $29,000. Atlantic Union Bankshares Corp bought a new stake in D-Wave Quantum during the second quarter valued at $29,000. Nvwm LLC bought a new stake in D-Wave Quantum during the third quarter valued at $52,000. Finally, Parallel Advisors LLC boosted its stake in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock valued at $32,000 after buying an additional 1,532 shares during the period. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Company Profile

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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