D-Wave Quantum (QBTS) Projected to Post Earnings on Thursday

D-Wave Quantum (NYSE:QBTS - Get Free Report) will likely be releasing its Q4 2024 earnings data before the market opens on Thursday, March 13th. Analysts expect D-Wave Quantum to post earnings of ($0.09) per share and revenue of $2.23 million for the quarter. Parties interested in participating in the company's conference call can do so using this link.

D-Wave Quantum Price Performance

NYSE:QBTS traded up $3.28 on Friday, reaching $10.19. The stock had a trading volume of 259,977,252 shares, compared to its average volume of 27,907,299. D-Wave Quantum has a 12-month low of $0.75 and a 12-month high of $11.41. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -24.25 and a beta of 1.12. The firm's fifty day moving average is $6.05 and its two-hundred day moving average is $3.80.

Analysts Set New Price Targets

QBTS has been the topic of a number of analyst reports. Craig Hallum raised their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Roth Mkm lifted their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday. Benchmark reiterated a "buy" rating and set a $8.00 target price on shares of D-Wave Quantum in a research report on Friday. B. Riley lifted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $8.50 price objective on shares of D-Wave Quantum in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum currently has an average rating of "Buy" and a consensus target price of $8.42.

Insider Transactions at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $6.14, for a total value of $17,060,382.96. Following the transaction, the insider now owns 37,278,688 shares of the company's stock, valued at approximately $228,891,144.32. This trade represents a 6.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alan E. Baratz sold 8,372 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the sale, the chief executive officer now directly owns 2,342,208 shares of the company's stock, valued at approximately $12,343,436.16. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,071,206 shares of company stock worth $53,438,181 in the last three months. 7.22% of the stock is currently owned by company insiders.

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.