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

D-Wave Quantum Inc. (NYSE:QBTS) has received a consensus rating of “Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $2.88.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares in the last quarter. Geode Capital Management LLC increased its position in D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after buying an additional 645,039 shares in the last quarter. State Street Corp raised its stake in D-Wave Quantum by 0.9% during the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after buying an additional 17,225 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in D-Wave Quantum by 23.0% in the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after acquiring an additional 839,942 shares in the last quarter. Finally, Bogart Wealth LLC purchased a new stake in shares of D-Wave Quantum in the third quarter worth $49,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Trading Down 6.6 %

Shares of NYSE:QBTS opened at $2.70 on Wednesday. The company has a market cap of $604.83 million, a price-to-earnings ratio of -6.43 and a beta of 0.96. D-Wave Quantum has a 12 month low of $0.68 and a 12 month high of $3.77. The company has a 50-day moving average price of $1.27 and a 200-day moving average price of $1.15.

About D-Wave Quantum

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.