D-Wave Quantum Inc. (NYSE:QBTS) Given Average Rating of “Buy” by Analysts

Shares of D-Wave Quantum Inc. (NYSE:QBTS) have earned an average rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.54.

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

D-Wave Quantum Price Performance

QBTS opened at $1.13 on Friday. D-Wave Quantum has a 12 month low of $0.57 and a 12 month high of $2.44. The business has a 50-day moving average of $1.00 and a two-hundred day moving average of $1.11. The stock has a market capitalization of $226.61 million, a price-to-earnings ratio of -2.62 and a beta of 0.96.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $2.18 million during the quarter, compared to analysts’ expectations of $2.88 million. Equities research analysts anticipate that D-Wave Quantum will post -0.4 earnings per share for the current year.

Institutional Trading of D-Wave Quantum

Several institutional investors have recently added to or reduced their stakes in QBTS. Vanguard Group Inc. boosted its holdings in shares of D-Wave Quantum by 17.9% in the 1st 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 period. Marshall Wace LLP acquired a new position in D-Wave Quantum in the second quarter valued at approximately $265,000. Bank of New York Mellon Corp bought a new position in shares of D-Wave Quantum during the second quarter valued at approximately $251,000. Squarepoint Ops LLC bought a new position in shares of D-Wave Quantum during the second quarter valued at approximately $163,000. Finally, XTX Topco Ltd acquired a new stake in shares of D-Wave Quantum during the 2nd quarter worth approximately $163,000. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Company Profile

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.