Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) has received an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.3333.
Several research firms have recently weighed in on QUBT. Ascendiant Capital Markets boosted their price target on Quantum Computing from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Wednesday, June 24th. Lake Street Capital reiterated a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $10.00 price objective on shares of Quantum Computing in a report on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, June 13th.
Get Our Latest Analysis on QUBT
Quantum Computing Price Performance
Quantum Computing (NASDAQ:QUBT – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $3.69 million for the quarter, compared to the consensus estimate of $3.13 million. On average, sell-side analysts anticipate that Quantum Computing will post -0.14 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Quantum Computing
A number of institutional investors have recently bought and sold shares of QUBT. International Assets Investment Management LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $26,000. Rhumbline Advisers bought a new stake in shares of Quantum Computing in the first quarter worth about $28,000. Tucker Asset Management LLC purchased a new position in Quantum Computing during the 4th quarter valued at approximately $29,000. Toth Financial Advisory Corp grew its holdings in shares of Quantum Computing by 50.0% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Finally, FWL Investment Management LLC bought a new stake in shares of Quantum Computing in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.
Quantum Computing Company Profile
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.
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