D-Wave Quantum Inc. (NASDAQ:QBTS) Receives $36.27 Average Price Target from Analysts

Shares of D-Wave Quantum Inc. (NASDAQ:QBTS) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $36.2667.

Several equities research analysts have recently commented on QBTS shares. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Stifel Nicolaus set a $35.00 price target on D-Wave Quantum in a research note on Tuesday, June 2nd. BMO Capital Markets started coverage on D-Wave Quantum in a report on Thursday, August 20th. They issued an “outperform” rating and a $35.00 price target on the stock. Roth Capital reissued a “buy” rating and set a $30.00 price objective on shares of D-Wave Quantum in a report on Thursday, August 6th. Finally, Benchmark assumed coverage on shares of D-Wave Quantum in a research report on Monday, July 27th. They set a “buy” rating and a $30.00 target price on the stock.

D-Wave Quantum Trading Up 0.2%

QBTS opened at $16.83 on Tuesday. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $6.23 billion, a PE ratio of -23.70 and a beta of 2.15. D-Wave Quantum has a 1-year low of $12.75 and a 1-year high of $46.75. The firm has a 50-day moving average price of $18.57 and a two-hundred day moving average price of $19.98.

D-Wave Quantum (NASDAQ:QBTS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $3.08 million for the quarter, compared to the consensus estimate of $4.03 million. D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. D-Wave Quantum’s revenue for the quarter was down 0.6 compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. As a group, equities analysts anticipate that D-Wave Quantum will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In related news, VP Sophie Ames sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total transaction of $52,036.50. Following the completion of the sale, the vice president directly owned 589,009 shares of the company’s stock, valued at $9,983,702.55. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently bought and sold shares of QBTS. Tidal Investments LLC bought a new position in shares of D-Wave Quantum during the 2nd quarter valued at about $372,000. Archford Capital Strategies LLC bought a new stake in D-Wave Quantum during the 2nd quarter worth approximately $200,000. WINTON GROUP Ltd bought a new stake in D-Wave Quantum during the 2nd quarter worth approximately $6,720,000. NorthRock Partners LLC acquired a new stake in D-Wave Quantum during the 2nd quarter worth approximately $359,000. Finally, Integrated Wealth Concepts LLC raised its holdings in D-Wave Quantum by 18.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,136 shares of the company’s stock worth $411,000 after buying an additional 2,640 shares during the period. 42.47% of the stock is owned by institutional investors.

About D-Wave Quantum

D-Wave Quantum Inc develops quantum computing systems, software, and services for commercial, government, and research customers. The company is best known for its quantum annealing technology, which is designed to help solve complex optimization problems involving areas such as logistics, scheduling, manufacturing, artificial intelligence, and financial modeling.

D-Wave also develops gate-model quantum computing technology and provides access to its systems through cloud-based services, including the Leap quantum application environment.