D-Wave Quantum (NYSE:QBTS) Stock Price Expected to Rise, Benchmark Analyst Says

D-Wave Quantum (NYSE:QBTS) had its price objective upped by investment analysts at Benchmark from $8.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 26.13% from the stock’s previous close.

Several other equities analysts also recently issued reports on QBTS. B. Riley lifted their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC upped their price objective on D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $10.17.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $11.10 on Monday. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -26.43 and a beta of 0.90. The business has a fifty day moving average of $7.41 and a 200-day moving average of $5.84. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $11.95.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. On average, equities research analysts predict that D-Wave Quantum will post -0.41 EPS for the current year.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently bought and sold shares of QBTS. Victory Capital Management Inc. raised its stake in D-Wave Quantum by 5.8% during the 1st quarter. Victory Capital Management Inc. now owns 31,097 shares of the company’s stock worth $236,000 after buying an additional 1,698 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of D-Wave Quantum by 20.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock worth $87,000 after acquiring an additional 1,766 shares during the period. Invesco Ltd. raised its position in shares of D-Wave Quantum by 5.1% in the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company’s stock worth $358,000 after buying an additional 2,051 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of D-Wave Quantum by 3.4% during the 1st quarter. XTX Topco Ltd now owns 65,799 shares of the company’s stock valued at $500,000 after purchasing an additional 2,159 shares in the last quarter. Finally, Corebridge Financial Inc. lifted its stake in shares of D-Wave Quantum by 5.0% in the fourth quarter. Corebridge Financial Inc. now owns 49,174 shares of the company’s stock worth $413,000 after buying an additional 2,342 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

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.