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

D-Wave Quantum Inc. (NYSE:QBTS) has received a consensus rating of “Buy” from the seven research firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2.54.

QBTS has been the subject of several recent analyst reports. 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 note on Friday, August 9th. Benchmark dropped their price objective on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, August 12th. B. Riley assumed coverage on D-Wave Quantum in a research note on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock. Roth Mkm dropped their price target on D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Westpark Capital reissued a “buy” rating and set a $3.00 price objective on shares of D-Wave Quantum in a research report on Friday, August 9th.

Institutional Investors Weigh In On D-Wave Quantum

Several large investors have recently bought and sold shares of QBTS. Baader Bank Aktiengesellschaft purchased a new stake in D-Wave Quantum during the 2nd quarter valued at $28,000. Delta Investment Management LLC purchased a new stake in D-Wave Quantum during the first quarter valued at $36,000. SG Americas Securities LLC bought a new position in D-Wave Quantum in the third quarter valued at about $42,000. Thoroughbred Financial Services LLC purchased a new position in D-Wave Quantum in the second quarter worth about $45,000. Finally, Instrumental Wealth LLC bought a new stake in shares of D-Wave Quantum during the 1st quarter valued at about $60,000. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Stock Down 1.0 %

Shares of QBTS stock opened at $0.90 on Tuesday. The business has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.22. D-Wave Quantum has a 12-month low of $0.57 and a 12-month high of $2.44. The firm has a market cap of $181.87 million, a P/E ratio of -1.68 and a beta of 0.98.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $2.18 million for the quarter, compared to analysts’ expectations of $2.88 million. As a group, research analysts expect that D-Wave Quantum will post -0.4 EPS for the current fiscal 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.