D-Wave Quantum (QBTS) to Release Earnings on Thursday

D-Wave Quantum (NYSE:QBTS) is projected to announce its earnings results before the market opens on Thursday, March 13th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $2.23 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

D-Wave Quantum Price Performance

QBTS opened at $5.38 on Wednesday. The business’s 50-day moving average price is $6.15 and its two-hundred day moving average price is $3.76. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $11.41. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -12.80 and a beta of 1.12.

Analysts Set New Price Targets

Several analysts have issued reports on QBTS shares. Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Craig Hallum lifted their target price on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. 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. B. Riley lifted their target price on D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Roth Mkm lifted their target price on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Buy” and an average price target of $6.71.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 5,582 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares in the company, valued at $5,610,210.12. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the sale, the insider now owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. This represents a 89.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,508,799 shares of company stock valued at $88,960,447 over the last 90 days. 7.22% of the stock is currently owned by insiders.

D-Wave Quantum Company Profile

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.