D-Wave Quantum Inc (NYSE:QBTS) does about 76.09M shares in volume on a normal day but saw 113782128 shares change hands in the recent trading day. The company now has a market cap of 5.13B USD. Its current market price is $17.55, marking a decrease of -6.65% compared to the previous close of $18.80. The 52 week high reached by this stock is $19.76 whilst the lowest price level in 52 weeks is $0.75. The script in recent trading has seen the stock touch a high of $4 and a low of $2.
4 analysts observing the D-Wave Quantum Inc (QBTS) stock have set the 12-month price targets for the company’s shares at between $2 and $4. The consensus objective for the share price is $12.83, suggesting that the stock has a potential downside of -36.79% over the period. The median price target is -602.0% away from the current levels at $2.5.
FactSet Research has provided data showing that 4 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 4 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 25, 2024 when B. Riley Securities initiated the stock to “Buy” and issued a price target of $3. Piper Sandler initiated its price target at $12.
The current price level is 53.96%, 91.59%, and 254.79% away from its SMA20, SMA50, and SMA200 respectively, with the QBTS price moving below the 50-day SMA on current market day. D-Wave Quantum Inc (QBTS) stock is up 33.46% over the week and 133.07% over the past month. Its price is 108.93% year-to-date and 1326.83% over the past year.
The company’s next earnings report forecasts estimating quarterly EPS at -0.06 and -0.19 for whole year. Expected sales for next quarter are $3.18M, which analysts say will come at $24.36M for the current fiscal year and next year at $38.05M. In addition, estimates put the company’s current quarterly revenue at an average of $2.58M.
Its 12-month price target is $2.5. To reach the target analysts have set, the stock logically needs to shrink -36.79 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $2, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $4.
Outstanding shares total 287.83M with insiders holding 2.62% of the shares and institutional holders owning 31.30% of the company’s common stock. The company has a return on investment of -54.10% and return on equity of -154.89%. The beta has a value of 1.58. Price to book ratio is 24.66 and price to sales ratio is 240.07.
