Quantinuum (NASDAQ:QNT) Coverage Initiated by Analysts at Sanford C. Bernstein

Stock analysts at Sanford C. Bernstein began coverage on shares of Quantinuum (NASDAQ:QNT) in a report issued on Monday. The firm set an “outperform” rating and a $94.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 24.39% from the stock’s current price.

A number of other equities analysts have also recently issued reports on QNT. Bank of America assumed coverage on Quantinuum in a report on Monday. They set a “buy” rating and a $100.00 target price on the stock. UBS Group initiated coverage on Quantinuum in a research note on Monday. They issued a “buy” rating for the company. Needham & Company LLC began coverage on shares of Quantinuum in a research note on Monday. They issued a “buy” rating and a $100.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Quantinuum in a report on Monday. They issued an “overweight” rating and a $90.00 target price on the stock. Finally, Rosenblatt Securities started coverage on shares of Quantinuum in a report on Monday. They issued a “buy” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $93.33.

Quantinuum Stock Performance

NASDAQ:QNT opened at $75.57 on Monday. Quantinuum has a 12-month low of $50.10 and a 12-month high of $81.48.

Insiders Place Their Bets

In related news, Director Kenneth D. Denman bought 14,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the acquisition, the director owned 19,833 shares of the company’s stock, valued at approximately $1,189,980. This represents a 240.01% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Jimenez bought 66,665 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $60.00 per share, with a total value of $3,999,900.00. Following the completion of the purchase, the director owned 72,498 shares in the company, valued at approximately $4,349,880. This trade represents a 1,142.89% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 411,032 shares of company stock worth $24,661,920 in the last three months.

Quantinuum Company Profile

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.