D-Wave Quantum Inc. (NYSE:QBTS) Receives Consensus Rating of “Moderate Buy” from Brokerages

D-Wave Quantum Inc. (NYSE:QBTS) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.80.

A number of equities research analysts have recently issued reports on QBTS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Canaccord Genuity Group cut their price objective on shares of D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of D-Wave Quantum in a research note on Tuesday, May 12th. Roth Mkm upped their price target on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price target on shares of D-Wave Quantum in a report on Wednesday, May 13th.

D-Wave Quantum News Summary

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: President Trump’s new executive orders on quantum computing are being seen as a major industry tailwind, because they push faster federal adoption of quantum solutions and quantum-resistant encryption. That could create new government contract opportunities for D-Wave Quantum and other U.S. quantum names. D-Wave Quantum (QBTS) Could See New Openings After White House Quantum Orders
• Positive Sentiment: Multiple reports highlighted D-Wave’s push beyond quantum annealing and a new simulator/breakthrough, which could broaden its customer base and reinforce the view that the company is making meaningful technical progress. D-Wave Pushes Beyond Quantum Annealing. Is QBTS Stock Worth Buying Now?
• Neutral Sentiment: Analysts and market commentators are framing D-Wave as a speculative quantum stock worth watching after the policy news, but the recent coverage is mostly thematic rather than based on a new earnings beat or contract announcement. D-Wave Quantum: Trump’s Orders Make This Speculative Buy Worth Watching
• Negative Sentiment: Despite the bullish quantum narrative, investors appear to be separating winners from laggards in the sector, which can pressure QBTS if sentiment rotates toward names with clearer near-term revenue momentum. Why Investors Are Finally Separating Quantum Computing Winners From Losers

Insider Activity at D-Wave Quantum

In related news, Director Rohit Ghai sold 13,518 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.41, for a total transaction of $357,010.38. Following the completion of the sale, the director directly owned 23,617 shares in the company, valued at $623,724.97. This represents a 36.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan E. Baratz sold 687,627 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the sale, the chief executive officer owned 3,299,771 shares of the company’s stock, valued at $86,223,016.23. This represents a 17.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,363,842 shares of company stock worth $35,802,656 over the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after buying an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in D-Wave Quantum during the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in D-Wave Quantum by 267.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after buying an additional 838 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in D-Wave Quantum in the 4th quarter worth $31,000. Finally, Ancora Advisors LLC bought a new position in D-Wave Quantum in the 3rd quarter worth $30,000. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Price Performance

QBTS stock opened at $22.98 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. D-Wave Quantum has a one year low of $12.75 and a one year high of $46.75. The stock has a market cap of $8.50 billion, a PE ratio of -20.34 and a beta of 2.05. The firm has a 50 day simple moving average of $23.33 and a two-hundred day simple moving average of $22.32.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The business had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The business’s quarterly revenue was down 80.9% compared to the same quarter last year. On average, analysts predict that D-Wave Quantum will post -0.43 EPS for the current fiscal year.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.