D-Wave Quantum's (QBTS) "Buy" Rating Reiterated at Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated a “buy” rating on D-Wave Quantum and set a $43 price target, implying about 81% upside from the stock’s current price.
• Other analysts have also been bullish: Roth Mkm and B. Riley recently raised their price targets to $40, while the overall analyst consensus remains a Moderate Buy with an average target of $36.40.
• The stock has been volatile amid strong attention to quantum computing, but insider selling has added caution, with the CFO and a director both disclosing recent share sales after a big run-up in the stock.

D-Wave Quantum (NYSE:QBTS - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $43.00 price objective on the stock. Rosenblatt Securities' price target points to a potential upside of 81.10% from the company's current price.

Several other equities research analysts have also recently issued reports on QBTS. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of D-Wave Quantum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Northland Securities began coverage on shares of D-Wave Quantum in a research note on Monday, April 20th. They set a "market perform" rating and a $22.00 price target on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Finally, B. Riley Financial increased their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.40.

D-Wave Quantum Price Performance

NYSE QBTS traded up $0.49 on Thursday, reaching $23.74. The company had a trading volume of 8,377,969 shares, compared to its average volume of 32,183,602. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $8.78 billion, a PE ratio of -20.96 and a beta of 2.05. The firm's 50 day moving average price is $21.32 and its 200 day moving average price is $22.24. D-Wave Quantum has a 12 month low of $12.75 and a 12 month high of $46.75.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The business had revenue of $2.86 million during the quarter, compared to analysts' expectations of $4.19 million. During the same period last year, the company posted ($0.02) EPS. The business's revenue was down 80.9% on a year-over-year basis. As a group, equities analysts predict that D-Wave Quantum will post -0.43 earnings per share for the current year.

Insider Activity

In other D-Wave Quantum news, Director John D. Dilullo sold 7,850 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the completion of the transaction, the director owned 21,310 shares in the company, valued at $520,603.30. The trade was a 26.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Markovich sold 50,979 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.24, for a total transaction of $1,337,688.96. Following the sale, the chief financial officer owned 1,388,933 shares of the company's stock, valued at $36,445,601.92. This represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,124,987 shares of company stock valued at $29,563,100 in the last quarter. Insiders own 1.30% of the company's stock.

Institutional Trading of D-Wave Quantum

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. raised its position in D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock worth $92,000 after buying an additional 1,300 shares during the last quarter. Royal Bank of Canada raised its position in D-Wave Quantum by 59.8% during the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company's stock worth $1,231,000 after buying an additional 60,668 shares during the last quarter. AQR Capital Management LLC raised its position in D-Wave Quantum by 201.0% during the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company's stock worth $1,526,000 after buying an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in D-Wave Quantum by 93.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company's stock worth $825,000 after buying an additional 52,437 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in D-Wave Quantum by 125.7% during the 1st quarter. NewEdge Advisors LLC now owns 43,786 shares of the company's stock worth $333,000 after buying an additional 24,382 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company's stock.

Trending Headlines about D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: B. Riley remained bullish on D-Wave Quantum, raising its price target to $40 from $36 and keeping a Buy rating, which supports the view that Wall Street still sees upside in QBTS. B. Riley is Bullish on D-Wave Quantum Inc. (QBTS)
• Positive Sentiment: Recent commentary highlighted D-Wave’s role in broader quantum-computing momentum, including federal funding interest and renewed investor focus on the sector’s commercial potential. Is D-Wave Quantum’s (QBTS) CHIPS Funding And Board Shift Reframing Its Commercial Quantum Strategy?
• Neutral Sentiment: Industry articles argue quantum computing is becoming more investable as the thesis shifts from hype toward commercialization, but the benefit to QBTS depends on execution. Quantum Computing Investing Gets an Important Refresh
• Negative Sentiment: CEO Alan Baratz sold 687,627 shares, a sizable insider sale that may be viewed as a lack of near-term conviction by some investors. Alan Baratz Sells 687,627 Shares of D-Wave Quantum NYSE: QBTS Stock
• Negative Sentiment: CFO John Markovich also disclosed stock sales, adding to concerns that management is trimming exposure after the recent run-up. John Markovich Sells 50,979 Shares of D-Wave Quantum NYSE: QBTS Stock
• Negative Sentiment: Several market commentaries warn that QBTS may be overextended after a major rally, with valuation looking stretched versus current fundamentals and recent buyers facing downside risk if growth slows. D-Wave Quantum Plummeted Today -- Is the Stock a Buy Right Now?
• Negative Sentiment: Competition from larger tech players in quantum computing is also pressuring sentiment, since it could make it harder for pure-play names like D-Wave to justify premium valuations. The Case for Intel Over Pure-Play Quantum Firms

D-Wave Quantum Company Profile

D-Wave Quantum Inc NYSE: QBTS develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company's product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.

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