D-Wave Quantum’s (QBTS) “Buy” Rating Reiterated at Needham & Company LLC

D-Wave Quantum (NYSE:QBTS)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $2.25 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 20.64% from the stock’s previous close.

Several other equities analysts have also recently commented on QBTS. B. Riley started coverage on shares of D-Wave Quantum in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock. Roth Mkm cut their price objective on D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Benchmark decreased their target price on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Westpark Capital reissued a “buy” rating and issued a $3.00 price target on shares of D-Wave Quantum in a report on Friday, August 9th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $2.63.

D-Wave Quantum Trading Up 4.8 %

NYSE QBTS opened at $1.87 on Friday. D-Wave Quantum has a 12 month low of $0.68 and a 12 month high of $2.44. The firm has a market capitalization of $375.67 million, a P/E ratio of -4.34 and a beta of 0.96. The business has a fifty day simple moving average of $1.07 and a 200 day simple moving average of $1.11.

Institutional Trading of D-Wave Quantum

A number of institutional investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft bought a new position in shares of D-Wave Quantum in the second quarter valued at approximately $28,000. SG Americas Securities LLC purchased a new stake in D-Wave Quantum in the 3rd quarter worth approximately $42,000. Thoroughbred Financial Services LLC bought a new position in D-Wave Quantum in the 2nd quarter valued at $45,000. Bogart Wealth LLC bought a new position in shares of D-Wave Quantum in the third quarter worth $49,000. Finally, Instrumental Wealth LLC purchased a new stake in shares of D-Wave Quantum in the first quarter worth $60,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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.