D-Wave Quantum Inc. (NYSE:QBTS) Receives $2.54 Consensus Target Price from Analysts

D-Wave Quantum Inc. (NYSE:QBTS) has been given an average rating of “Buy” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $2.54.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Delta Investment Management LLC bought a new stake in shares of D-Wave Quantum during the 1st quarter worth about $36,000. Baader Bank Aktiengesellschaft bought a new stake in D-Wave Quantum during the second quarter worth approximately $28,000. Instrumental Wealth LLC acquired a new stake in D-Wave Quantum in the first quarter worth approximately $60,000. Carroll Investors Inc boosted its stake in D-Wave Quantum by 44.7% during the 1st quarter. Carroll Investors Inc now owns 30,485 shares of the company’s stock valued at $62,000 after purchasing an additional 9,415 shares in the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of D-Wave Quantum during the 2nd quarter valued at $45,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

NYSE QBTS opened at $1.00 on Tuesday. The company has a market capitalization of $171.27 million, a price-to-earnings ratio of -1.89 and a beta of 0.98. D-Wave Quantum has a 12 month low of $0.57 and a 12 month high of $2.44. The company’s fifty day moving average price is $0.95 and its two-hundred day moving average price is $1.19.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $2.18 million during the quarter, compared to the consensus estimate of $2.88 million. As a group, analysts anticipate that D-Wave Quantum will post -0.4 EPS for the current year.

About D-Wave Quantum

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.