D-Wave Quantum Inc. (NYSE:QBTS) Receives Consensus Rating of "Buy" from Analysts

Key Points

• D-Wave Quantum Inc. has received a consensus rating of "Buy" from eleven analysts, with an average 12-month price target of $19.27.
• Visible insider trading activity includes Director Kirstjen Nielsen selling 58,644 shares and CFO John M. Markovich selling 100,000 shares, impacting their respective ownership considerably.
• For their latest quarter, D-Wave Quantum reported revenue of $3.10 million, exceeding expectations, though they posted a loss of ($0.08) EPS compared to the consensus estimate of ($0.05).

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) has been given an average recommendation of "Buy" by the eleven brokerages that are covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.2727.

Several research firms have recently commented on QBTS. Benchmark reissued a "buy" rating and issued a $20.00 price target on shares of D-Wave Quantum in a report on Monday, August 4th. Needham & Company LLC reaffirmed a "buy" rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Rosenblatt Securities began coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price objective for the company. B. Riley raised their price objective on D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Canaccord Genuity Group began coverage on D-Wave Quantum in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 price objective for the company.

Insider Activity at D-Wave Quantum

In other news, Director Kirstjen Nielsen sold 58,644 shares of D-Wave Quantum stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.21, for a total value of $950,619.24. Following the completion of the sale, the director owned 132,673 shares of the company's stock, valued at $2,150,629.33. The trade was a 30.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Markovich sold 100,000 shares of D-Wave Quantum stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the sale, the chief financial officer directly owned 1,558,753 shares of the company's stock, valued at approximately $28,057,554. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 378,787 shares of company stock valued at $6,389,513 in the last ninety days. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QBTS. Vontobel Holding Ltd. lifted its stake in shares of D-Wave Quantum by 786.8% during the first 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. JPMorgan Chase & Co. lifted its stake in shares of D-Wave Quantum by 20.6% during the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock worth $393,000 after purchasing an additional 8,001 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of D-Wave Quantum during the first quarter worth about $167,000. Swiss National Bank acquired a new position in shares of D-Wave Quantum during the first quarter worth about $3,532,000. Finally, Verity Asset Management Inc. acquired a new position in shares of D-Wave Quantum in the first quarter worth about $251,000. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $15.96 on Friday. The stock's 50-day moving average is $16.62 and its two-hundred day moving average is $12.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86. D-Wave Quantum has a 1-year low of $0.80 and a 1-year high of $20.56. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -15.20 and a beta of 1.41.

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

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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