Quantum Computing Inc. (NASDAQ:QUBT) Receives $17.50 Consensus Target Price from Brokerages

Quantum Computing Inc. (NASDAQ:QUBT) has been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $17.50.

A number of analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Cantor Fitzgerald dropped their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Northland Securities initiated coverage on shares of Quantum Computing in a research report on Monday, April 20th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Wall Street Zen lowered shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday.

Quantum Computing Stock Up 0.2%

Shares of QUBT stock opened at $9.93 on Wednesday. The firm has a 50 day moving average price of $9.73 and a two-hundred day moving average price of $9.84. The company has a market capitalization of $2.24 billion, a PE ratio of -35.46 and a beta of 3.72. Quantum Computing has a 12-month low of $6.18 and a 12-month high of $25.84.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.13 million. As a group, research analysts expect that Quantum Computing will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QUBT. Aventura Private Wealth LLC bought a new position in Quantum Computing in the 4th quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in Quantum Computing in the 4th quarter worth approximately $26,000. Rhumbline Advisers purchased a new stake in Quantum Computing in the 1st quarter worth approximately $28,000. Tucker Asset Management LLC purchased a new stake in Quantum Computing in the 4th quarter worth approximately $29,000. Finally, Toth Financial Advisory Corp lifted its stake in Quantum Computing by 50.0% in the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. 4.26% of the stock is owned by institutional investors.

About Quantum Computing

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.