D-Wave Quantum Inc. (NYSE:QBTS) Receives Average Recommendation of “Buy” from Brokerages

Shares of D-Wave Quantum Inc. (NYSE:QBTSGet Free Report) have been given an average recommendation of “Buy” by the six analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.88.

Several analysts recently weighed in on the stock. Roth Mkm cut their price target on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Benchmark cut their target price on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. B. Riley boosted their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Westpark Capital restated a “buy” rating and issued a $3.00 price objective on shares of D-Wave Quantum in a report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th.

View Our Latest Stock Analysis on D-Wave Quantum

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors and hedge funds have recently made changes to their positions in QBTS. Vanguard Group Inc. raised its position in shares of D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock worth $2,183,000 after purchasing an additional 162,688 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of D-Wave Quantum by 217.0% in the first quarter. Virtu Financial LLC now owns 124,689 shares of the company’s stock worth $254,000 after buying an additional 85,351 shares in the last quarter. Instrumental Wealth LLC purchased a new stake in shares of D-Wave Quantum during the first quarter valued at approximately $60,000. Baader Bank Aktiengesellschaft bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $28,000. Finally, Bank of New York Mellon Corp purchased a new position in D-Wave Quantum in the 2nd quarter worth approximately $251,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $2.99 on Wednesday. D-Wave Quantum has a fifty-two week low of $0.68 and a fifty-two week high of $3.77. The firm has a market cap of $669.79 million, a P/E ratio of -7.12 and a beta of 1.79. The business’s 50 day moving average price is $1.46 and its 200-day moving average price is $1.21.

D-Wave Quantum Company Profile

(Get Free Report

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.

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Analyst Recommendations for D-Wave Quantum (NYSE:QBTS)

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