D-Wave Quantum’s (QBTS) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of D-Wave Quantum (NYSE:QBTS) in a research report sent to investors on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $43.00 price objective on the stock.

Several other equities research analysts also recently issued reports on QBTS. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of D-Wave Quantum in a research note on Wednesday. Canaccord Genuity Group dropped their price target on shares of D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, TD Cowen started coverage on shares of D-Wave Quantum in a research note on Thursday, February 12th. They set a “buy” rating on the stock. Fourteen 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.67.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $20.24 on Wednesday. The company’s fifty day simple moving average is $18.05 and its 200-day simple moving average is $22.64. D-Wave Quantum has a 52 week low of $11.32 and a 52 week high of $46.75. The company has a current ratio of 21.41, a quick ratio of 42.25 and a debt-to-equity ratio of 0.03. The company has a market cap of $7.49 billion, a PE ratio of -17.91 and a beta of 1.95.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.19 million. During the same quarter last year, the firm posted ($0.02) EPS. The business’s revenue for the quarter was down 80.9% compared to the same quarter last year. As a group, equities research analysts anticipate that D-Wave Quantum will post -0.44 EPS for the current year.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the transaction, the director directly owned 27,778 shares of the company’s stock, valued at $489,448.36. This trade represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Markovich sold 10,706 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $17.63, for a total transaction of $188,746.78. Following the transaction, the chief financial officer directly owned 1,451,427 shares of the company’s stock, valued at approximately $25,588,658.01. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 31,776 shares of company stock valued at $574,571 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its holdings in D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after acquiring an additional 776 shares in the last quarter. Parallel Advisors LLC grew its holdings in D-Wave Quantum by 545.5% during the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock worth $26,000 after acquiring an additional 1,511 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in D-Wave Quantum during the 4th quarter worth $28,000. PeakShares LLC acquired a new position in D-Wave Quantum during the 1st quarter worth $29,000. Finally, EverSource Wealth Advisors LLC grew its holdings in D-Wave Quantum by 267.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after acquiring an additional 838 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: Several firms reiterated bullish views on QBTS, including Buy or Overweight ratings from Cantor Fitzgerald, Canaccord Genuity, Needham and Rosenblatt, signaling that analysts still see long-term upside. Article Title
• Positive Sentiment: The company’s Q1 update showed record bookings of $33.4 million, which suggests demand for its quantum systems and services remains strong even though revenue was lower than expected. Article Title
• Neutral Sentiment: Coverage this week highlighted D-Wave as a closely watched name in the quantum-computing trade, with investors debating whether recent weakness is a buying opportunity after the Q1 reaction. Article Title
• Negative Sentiment: QBTS is being hit by a sector-wide selloff in quantum stocks, which is overshadowing company-specific positives and dragging shares lower alongside peers. Article Title
• Negative Sentiment: Investors are still weighing weak top-line results from Q1, including revenue of $2.86 million, which keeps questions alive about near-term profitability and execution. Article Title

About D-Wave Quantum

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.