Analysts Set D-Wave Quantum Inc. (NYSE:QBTS) Target Price at $20.27

D-Wave Quantum Inc. (NYSE:QBTS) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.2727.

A number of analysts have recently issued reports on the company. Canaccord Genuity Group initiated coverage on D-Wave Quantum in a research report on Wednesday, July 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Cantor Fitzgerald assumed coverage on D-Wave Quantum in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $20.00 price objective for the company. Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a report on Wednesday, October 15th. Rosenblatt Securities initiated coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They set a “buy” rating and a $26.00 price target for the company.

D-Wave Quantum Stock Up 5.1%

Shares of QBTS stock opened at $32.64 on Friday. The stock’s 50 day simple moving average is $24.68 and its 200 day simple moving average is $17.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum has a twelve month low of $0.98 and a twelve month high of $46.75. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of -31.08 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm’s quarterly revenue was up 40.9% on a year-over-year basis. As a group, research analysts predict that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Buying and Selling

In other D-Wave Quantum news, CEO Alan E. Baratz sold 31,369 shares of D-Wave Quantum stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total value of $1,372,080.06. Following the completion of the transaction, the chief executive officer directly owned 2,801,265 shares of the company’s stock, valued at $122,527,331.10. The trade was a 1.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $179,300.00. Following the transaction, the director directly owned 47,778 shares of the company’s stock, valued at $856,659.54. This trade represents a 17.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,363 shares of company stock valued at $4,659,478 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors and hedge funds have recently made changes to their positions in the business. Reyes Financial Architecture Inc. bought a new position in D-Wave Quantum in the second quarter worth approximately $29,000. Atlantic Union Bankshares Corp purchased a new stake in D-Wave Quantum in the second quarter worth $29,000. Financial Consulate Inc. bought a new position in shares of D-Wave Quantum in the third quarter worth $31,000. Parallel Advisors LLC boosted its holdings in shares of D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after acquiring an additional 1,532 shares during the period. Finally, Gables Capital Management Inc. bought a new stake in D-Wave Quantum during the second quarter valued at $37,000. Institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

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.