Quantum Computing (NASDAQ:QUBT – Get Free Report)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They presently have a $12.00 target price on the stock. Wedbush’s target price points to a potential upside of 42.93% from the stock’s previous close.
Several other equities analysts have also weighed in on QUBT. Wall Street Zen lowered Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $10.00 price target on shares of Quantum Computing in a research report on Wednesday, June 24th. Northland Securities began coverage on Quantum Computing in a report on Monday, April 20th. They issued an “outperform” rating and a $20.00 price objective on the stock. Ascendiant Capital Markets boosted their price objective on Quantum Computing from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Quantum Computing has an average rating of “Hold” and an average price target of $18.33.
Get Our Latest Analysis on Quantum Computing
Quantum Computing Trading Up 3.7%
Quantum Computing (NASDAQ:QUBT – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.13 million. On average, equities research analysts forecast that Quantum Computing will post -0.14 EPS for the current year.
Institutional Investors Weigh In On Quantum Computing
A number of institutional investors and hedge funds have recently added to or reduced their stakes in QUBT. FWL Investment Management LLC purchased a new position in shares of Quantum Computing during the 2nd quarter worth $33,000. Triumph Capital Management purchased a new position in Quantum Computing during the third quarter worth about $45,000. International Assets Investment Management LLC purchased a new position in Quantum Computing during the fourth quarter worth about $26,000. Tucker Asset Management LLC acquired a new stake in shares of Quantum Computing during the fourth quarter valued at about $29,000. Finally, Horizon Investments LLC acquired a new stake in shares of Quantum Computing during the third quarter valued at about $55,000. 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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