D-Wave Quantum’s (QBTS) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of D-Wave Quantum (NYSE:QBTS) in a report released on Wednesday,Benzinga reports. The firm currently has a $43.00 price target on the stock.

Several other research analysts have also recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of D-Wave Quantum in a research report on Friday, January 23rd. Canaccord Genuity Group boosted their target price on shares of D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a report on Friday, November 7th. Williams Trading set a $35.00 price target on shares of D-Wave Quantum in a research note on Monday, November 10th. Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of D-Wave Quantum in a report on Thursday, January 22nd. Finally, Evercore ISI initiated coverage on D-Wave Quantum in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and an average price target of $38.21.

D-Wave Quantum Trading Down 8.7%

Shares of D-Wave Quantum stock opened at $21.21 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The stock’s 50 day simple moving average is $26.44 and its 200-day simple moving average is $24.67. The stock has a market cap of $7.43 billion, a P/E ratio of -15.71 and a beta of 1.57. D-Wave Quantum has a 1-year low of $4.45 and a 1-year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business’s revenue was up 105.6% on a year-over-year basis. Analysts predict that D-Wave Quantum will post -0.41 EPS for the current fiscal year.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, Director Kirstjen Nielsen sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total value of $158,340.00. Following the sale, the director owned 112,673 shares of the company’s stock, valued at $2,548,663.26. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Markovich sold 9,179 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total value of $257,562.74. Following the transaction, the chief financial officer owned 1,462,133 shares in the company, valued at $41,027,451.98. This trade represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,346,916 shares of company stock worth $65,591,314 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

Large investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp purchased a new position in D-Wave Quantum in the second quarter valued at $29,000. Ancora Advisors LLC acquired a new stake in D-Wave Quantum in the 3rd quarter valued at about $30,000. Financial Consulate Inc. purchased a new position in shares of D-Wave Quantum in the 3rd quarter valued at about $31,000. Gables Capital Management Inc. acquired a new position in shares of D-Wave Quantum during the second quarter worth about $37,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of D-Wave Quantum during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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.