D-Wave Quantum (NYSE:QBTS – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a report issued on Tuesday, MarketBeat.com reports. They presently have a $20.00 price objective on the stock, up from their previous price objective of $14.00. Benchmark’s target price indicates a potential upside of 27.07% from the stock’s previous close.
A number of other analysts also recently issued reports on the stock. B. Riley raised their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Roth Capital reissued a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Needham & Company LLC lifted their target price on D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Roth Mkm increased their price target on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.57.
Read Our Latest Stock Report on D-Wave Quantum
D-Wave Quantum Stock Up 1.2%
D-Wave Quantum (NYSE:QBTS – Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $15.00 million during the quarter, compared to analysts’ expectations of $10.50 million. D-Wave Quantum had a negative return on equity of 227.95% and a negative net margin of 617.84%. On average, research analysts expect that D-Wave Quantum will post -0.41 earnings per share for the current year.
Insider Buying and Selling at D-Wave Quantum
In related news, Director Kirstjen Nielsen sold 13,000 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.04, for a total value of $208,520.00. Following the sale, the director now owns 119,673 shares in the company, valued at approximately $1,919,554.92. The trade was a 9.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan E. Baratz sold 845,813 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total value of $14,378,821.00. Following the transaction, the chief executive officer now directly owns 2,866,412 shares in the company, valued at approximately $48,729,004. The trade was a 22.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,636,796 shares of company stock valued at $27,872,091 over the last quarter. 3.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On D-Wave Quantum
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of D-Wave Quantum by 103.7% during the fourth quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock worth $59,794,000 after purchasing an additional 3,624,407 shares in the last quarter. Bank of New York Mellon Corp increased its stake in D-Wave Quantum by 40.9% during the 4th quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company’s stock worth $1,845,000 after buying an additional 63,799 shares during the period. Commonwealth Equity Services LLC lifted its holdings in D-Wave Quantum by 1,097.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company’s stock worth $1,916,000 after buying an additional 209,000 shares in the last quarter. Truist Financial Corp acquired a new stake in D-Wave Quantum during the 4th quarter worth approximately $108,000. Finally, JPMorgan Chase & Co. boosted its position in D-Wave Quantum by 20.6% in the 4th quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company’s stock valued at $393,000 after buying an additional 8,001 shares during the period. 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.
See Also
- Five stocks we like better than D-Wave Quantum
- Roth IRA Calculator: Calculate Your Potential Returns
- Why Amazon Could Be About To Breakout To $250
- Best Aerospace Stocks Investing
- Chime’s Smart IPO: Half the Valuation, Double the Strength
- Insider Trades May Not Tell You What You Think
- Why Quantum Computing Inc. Is the Quiet Winner in Quantum Stocks
Receive News & Ratings for D-Wave Quantum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for D-Wave Quantum and related companies with MarketBeat.com's FREE daily email newsletter.