Horizon Quantum Computing Pte. (NASDAQ:HQ) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. (NASDAQ:HQ) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the quantum computing company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 44.20% from the company’s previous close.

Several other equities research analysts have also recently issued reports on HQ. Wall Street Zen cut shares of Horizon Quantum Computing Pte. to a “strong sell” rating in a research note on Saturday, May 23rd. Weiss Ratings raised shares of Horizon Quantum Computing Pte. from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Stock Up 9.1%

Shares of Horizon Quantum Computing Pte. stock opened at $13.87 on Wednesday. The company has a market cap of $715.41 million, a price-to-earnings ratio of -7.08 and a beta of 0.65. Horizon Quantum Computing Pte. has a 12 month low of $8.29 and a 12 month high of $14.65.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) EPS for the quarter.

About Horizon Quantum Computing Pte.

Horizon Quantum Holdings Ltd. is a quantum software infrastructure company focused on tools and systems that help developers build and deploy quantum applications. The company emphasizes software, algorithms, and workflow infrastructure intended to support practical quantum and hybrid quantum-classical use cases.

Horizon Quantum became a public company through its business combination with dMY Squared Technology Group, Inc (DMYY), which was formed to take a private company public through a business combination.