Analysts Set D-Wave Quantum Inc. (NYSE:QBTS) Price Target at $2.54

D-Wave Quantum Inc. (NYSE:QBTSGet Free Report) has received an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $2.54.

A number of analysts recently issued reports on QBTS shares. Roth Mkm lowered their price target on D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Benchmark dropped their price target on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. B. Riley started coverage on D-Wave Quantum in a report on Thursday, July 25th. They issued a “buy” rating and a $3.00 price objective for the company. Needham & Company LLC dropped their target price on shares of D-Wave Quantum from $2.50 to $2.25 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Westpark Capital restated a “buy” rating and issued a $3.00 price target on shares of D-Wave Quantum in a report on Friday, August 9th.

Read Our Latest Stock Analysis on QBTS

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its stake in D-Wave Quantum by 25.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,350,096 shares of the company’s stock valued at $1,188,000 after acquiring an additional 270,096 shares in the last quarter. Marshall Wace LLP purchased a new position in D-Wave Quantum during the 2nd quarter worth $265,000. Bank of New York Mellon Corp acquired a new position in D-Wave Quantum during the 2nd quarter valued at about $251,000. Vanguard Group Inc. raised its stake in D-Wave Quantum by 17.9% in the first quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after buying an additional 162,688 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in D-Wave Quantum in the second quarter worth about $163,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Down 0.6 %

QBTS stock opened at $0.96 on Friday. D-Wave Quantum has a twelve month low of $0.57 and a twelve month high of $2.44. The firm has a market cap of $193.37 million, a price-to-earnings ratio of -1.81 and a beta of 0.98. The business’s fifty day simple moving average is $0.98 and its two-hundred day simple moving average is $1.32.

D-Wave Quantum (NYSE:QBTSGet Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $2.18 million for the quarter, compared to the consensus estimate of $2.88 million. Research analysts expect that D-Wave Quantum will post -0.4 EPS for the current year.

About D-Wave Quantum

(Get Free Report

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.

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Analyst Recommendations for D-Wave Quantum (NYSE:QBTS)

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