D-Wave Quantum (QBTS) Set to Announce Quarterly Earnings on Friday

Posted by on May 17th, 2023

D-Wave Quantum (NYSE:QBTS – Get Rating) is scheduled to announce its earnings results before the market opens on Friday, May 19th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

D-Wave Quantum (NYSE:QBTS – Get Rating) last released its quarterly earnings results on Friday, April 14th. The company reported ($0.12) EPS for the quarter. The business had revenue of $2.40 million for the quarter. On average, analysts expect D-Wave Quantum to post $0 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

D-Wave Quantum Price Performance

QBTS stock opened at $0.57 on Wednesday. D-Wave Quantum has a one year low of $0.40 and a one year high of $13.23. The firm has a 50 day simple moving average of $0.56 and a two-hundred day simple moving average of $1.30.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors have recently made changes to their positions in the business. Credit Suisse AG bought a new stake in D-Wave Quantum during the 3rd quarter valued at $228,000. B. Riley Wealth Advisors Inc. bought a new stake in D-Wave Quantum during the 4th quarter valued at $64,000. Renaissance Technologies LLC bought a new stake in D-Wave Quantum during the 1st quarter valued at $47,000. State Street Corp raised its holdings in D-Wave Quantum by 179.7% during the 1st quarter. State Street Corp now owns 134,800 shares of the company’s stock valued at $90,000 after buying an additional 86,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in D-Wave Quantum during the 4th quarter valued at $299,000. Hedge funds and other institutional investors own 10.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QBTS. Benchmark cut their price target on shares of D-Wave Quantum from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Monday, April 17th. Roth Mkm cut their price objective on shares of D-Wave Quantum from $10.00 to $2.00 and set a “buy” rating for the company in a research note on Monday, April 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $5.00.

About D-Wave Quantum

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D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Launch, a quantum computing onboarding service; Ocean a full suite of open-source programming 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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