D-Wave Quantum (NASDAQ:QBTS) Stock Price Target Lowered at StoneX

D-Wave Quantum (NASDAQ:QBTS) had its price target reduced by investment analysts at StoneX from $30.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. StoneX‘s price objective suggests a potential upside of 87.79% from the company’s current price.

QBTS has been the topic of a number of other research reports. Roth Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of D-Wave Quantum in a research note on Thursday, August 6th. BMO Capital Markets initiated coverage on D-Wave Quantum in a research report on Thursday, August 20th. They set an “outperform” rating and a $35.00 target price for the company. Mizuho set a $23.00 target price on shares of D-Wave Quantum in a report on Tuesday. Wedbush initiated coverage on shares of D-Wave Quantum in a research report on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Needham & Company LLC decreased their price target on shares of D-Wave Quantum from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

D-Wave Quantum Stock Performance

Shares of NASDAQ QBTS opened at $10.65 on Wednesday. The company has a market cap of $3.94 billion, a P/E ratio of -24.77 and a beta of 2.35. D-Wave Quantum has a 52-week low of $8.48 and a 52-week high of $32.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.42 and a current ratio of 20.55. The firm’s fifty day moving average is $14.22 and its two-hundred day moving average is $18.68.

D-Wave Quantum (NASDAQ:QBTS) last posted its earnings results on Tuesday, November 10th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). D-Wave Quantum had a negative return on equity of 15.39% and a negative net margin of 1,188.79%. The firm had revenue of $4.51 million during the quarter, compared to analysts’ expectations of $4.37 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, analysts anticipate that D-Wave Quantum will post -0.50 EPS for the current fiscal year.

Institutional Trading of D-Wave Quantum

A number of large investors have recently made changes to their positions in QBTS. BlackRock Inc. bought a new position in D-Wave Quantum in the 2nd quarter worth about $795,206,000. Bank of America Corp DE acquired a new stake in D-Wave Quantum in the second quarter valued at approximately $104,183,000. Van ECK Associates Corp grew its stake in D-Wave Quantum by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,339,788 shares of the company’s stock worth $56,132,000 after buying an additional 806,835 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of D-Wave Quantum during the second quarter valued at about $54,951,000. Finally, Wellington Management Group LLP increased its stake in D-Wave Quantum by 372.2% during the 2nd quarter. Wellington Management Group LLP now owns 1,820,070 shares of the company’s stock valued at $43,663,000 after purchasing an additional 1,434,657 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum News Summary

Investors following QBTS have been watching these news items:

• Positive Sentiment: Wedbush reiterated its Outperform rating and $30 price target, citing a 611% year-over-year increase in nine-month bookings and an expected fourth-quarter delivery to a major Florida university system. That delivery could support near-term revenue growth. D-Wave gets Wedbush vote of confidence as bookings surge 611%
• Positive Sentiment: On its earnings call, D-Wave highlighted a growing system-sales pipeline and technical milestones for its annealing and gate-model platforms, bolstering its longer-term growth case. QBTS Q3 Earnings Call Highlights System Sales and Quantum Roadmap
• Neutral Sentiment: Analysts cut price targets after the results, though Canaccord, Needham, Stifel and Rosenblatt retained Buy ratings; Canaccord’s revised target is $31. Canaccord Genuity Group price target

D-Wave Quantum Company Profile

D-Wave Quantum develops quantum computing systems, software and services for commercial, government and research users. The company focuses on quantum annealing, an approach designed to help solve complex optimization and sampling problems, and offers hybrid tools that combine quantum processing with classical computing. Its offerings include Advantage quantum computers, the Leap quantum cloud service, and software for building and running applications. D-Wave’s technology is used to explore challenges such as scheduling, resource allocation and supply-chain optimization.