D-Wave Quantum Price Target Increased by Benchmark to $8.00

D-Wave Quantum (NYSE:QBTS) saw its price target raised by Benchmark analysts from $3.00 to $8.00, as noted in a report released on Friday. This increase indicates potential growth of 24.22% based on the stock's prior closing price, and Benchmark has assigned a "buy" rating to the stock.

Other analysts have also recently updated their projections for D-Wave Quantum. Roth MKM raised its price target from $3.00 to $7.00 while maintaining a "buy" rating as stated in a report on December 12. Meanwhile, Craig Hallum increased their price target for the stock from $2.50 to $9.00 and also provided a "buy" rating on Friday. Needham & Company reaffirmed a "buy" rating but has a lower price target of $2.25 in their report from November 15. Additionally, B. Riley adjusted their target from $3.75 to $4.50 while keeping a "buy" rating in a report dated November 25. Collectively, six analysts have rated D-Wave Quantum with a "buy" rating, leading to a consensus rating of "Buy" and an average price target of $5.63 according to MarketBeat.com.

D-Wave Quantum Stock Performance

As of Friday, D-Wave Quantum stocks opened at $6.44, with a price range over the past year of a low of $0.68 and a high of $10.50. The company's market capitalization stands at approximately $1.44 billion, with a price-to-earnings (PE) ratio of -15.33 and a beta of 1.79. The 50-day moving average for the stock is $2.64, while the 200-day moving average is $1.59.

Insider Transactions

In recent developments regarding insider trading, Sector Pension Investme Public, a major shareholder, sold 8,437,593 shares of D-Wave Quantum on December 12 at an average price of $4.21, totaling approximately $35.5 million. Post-transaction, the shareholder retains 1,000,000 shares valued at $4.21 million, which reflects an 89.40% reduction in their stake. This sale was disclosed in a legal filing with the SEC. Currently, company insiders hold about 7.22% of the stock.

Institutional Investors' Activity

Several hedge funds have made adjustments to their holdings in D-Wave Quantum recently. SG Americas Securities LLC entered a new investment in D-Wave during the third quarter valued at $42,000. Thoroughbred Financial Services LLC made a new purchase worth roughly $45,000 in the second quarter. Additionally, Bogart Wealth LLC invested around $49,000 during the third quarter. Instrumental Wealth LLC increased its position in D-Wave Quantum by 85.9% in the second quarter. They now own 54,240 shares worth $62,000 after acquiring an extra 25,067 shares. Rhumbline Advisers also purchased a new position with an investment of approximately $93,000 in the second quarter. Institutional ownership accounts for 42.47% of the company's shares.

Company Overview

D-Wave Quantum Inc specializes in quantum computing systems, software, and services globally. Their offerings include the Advantage quantum computer, the Ocean suite of open-source Python tools, and a cloud service called Leap that provides access to a real-time quantum computer, along with support for hybrid solvers, the Ocean software development kit, and various educational resources.

Related Articles

• Five stocks we like better than D-Wave Quantum
• How to find unusual volume stocks in real time
• Comparing Exxon Mobil and Chevron for potential gains in 2025
• The pros and cons of investing in monthly dividend stocks
• Mining stocks to watch closely
• Understanding quiet period expirations
• A review of the week in the market from December 16 to December 20

For those interested in daily updates, you can subscribe for news and ratings on D-Wave Quantum and similar companies.

Quantum, Stock, Investment