D-Wave Quantum (NYSE:QBTS) Price Target Lowered to $29.00 at Mizuho

D-Wave Quantum (NYSE:QBTS) had its price objective cut by equities research analysts at Mizuho from $31.00 to $29.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 29.56% from the company’s current price.

QBTS has been the subject of several other research reports. Northland Securities began coverage on shares of D-Wave Quantum in a research report on Monday, April 20th. They set a “market perform” rating and a $22.00 price objective for the company. Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Roth Mkm cut their price objective on shares of D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Needham & Company LLC cut their price objective on shares of D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.80.

D-Wave Quantum Trading Down 6.9%

QBTS opened at $22.38 on Wednesday. D-Wave Quantum has a twelve month low of $10.36 and a twelve month high of $46.75. The company has a 50-day simple moving average of $17.90 and a 200 day simple moving average of $22.80. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of -20.35 and a beta of 1.95.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. 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 prior year, the business posted ($0.02) earnings per share. D-Wave Quantum’s revenue was down 80.9% compared to the same quarter last year. Analysts predict that D-Wave Quantum will post -0.44 EPS for the current fiscal year.

Insider Activity at D-Wave Quantum

In other news, VP Sophie C. Ames sold 3,070 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.35, for a total value of $65,544.50. Following the completion of the transaction, the vice president owned 643,678 shares of the company’s stock, valued at approximately $13,742,525.30. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the transaction, the director directly owned 27,778 shares of the company’s stock, valued at $489,448.36. This trade represents a 26.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,776 shares of company stock worth $574,571 over the last three months. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Csenge Advisory Group lifted its holdings in shares of D-Wave Quantum by 99.1% in the third quarter. Csenge Advisory Group now owns 35,886 shares of the company’s stock worth $887,000 after acquiring an additional 17,860 shares during the last quarter. Mutual Advisors LLC acquired a new position in shares of D-Wave Quantum in the third quarter valued at approximately $1,069,000. Federated Hermes Inc. increased its stake in shares of D-Wave Quantum by 259,560.6% in the third quarter. Federated Hermes Inc. now owns 184,359 shares of the company’s stock valued at $4,556,000 after buying an additional 184,288 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of D-Wave Quantum by 370.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company’s stock valued at $2,378,000 after buying an additional 75,807 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of D-Wave Quantum by 254.7% in the fourth quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company’s stock valued at $59,413,000 after buying an additional 1,631,415 shares during the period. Institutional investors own 42.47% of the company’s stock.

More D-Wave Quantum News

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

• Positive Sentiment: D-Wave reported Q1 EPS of ($0.05), beating estimates for a loss of ($0.08), which suggests losses are narrowing faster than expected. The company also highlighted record bookings growth of nearly 2,000%, a sign of strong demand and improving commercial momentum. Article Title
• Positive Sentiment: Analysts and market coverage noted that the company’s booking growth, government deals, and Advantage2 momentum could support the long-term quantum computing story, even if near-term fundamentals remain uneven. Article Title
• Neutral Sentiment: Investors are also focused on management’s earnings call and presentation for clues about commercialization timing, revenue ramp, and whether recent booking strength can translate into sustained sales growth. Article Title
• Negative Sentiment: Revenue came in at $2.86 million, well below the $4.19 million estimate and down 80.9% year over year, reinforcing concerns about lumpy sales and the company’s still-challenged path to profitability. Article Title
• Negative Sentiment: Several market write-ups pointed out that despite the EPS beat, the stock was under pressure because the revenue miss overshadowed the beat and the company remains unprofitable with wide negative margins. Article Title

D-Wave Quantum Company Profile

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.