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D-Wave Quantum (QBTS) Receives a Rating Update from a Top Analyst

Tipranks - Tipranks - Tue Apr 7, 3:46PM CDT

Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on D-Wave Quantum today and set a price target of $31.00.

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Rakesh covers the Technology sector, focusing on stocks such as Micron, IonQ, and ARM Holdings PLC ADR. According to TipRanks, Rakesh has an average return of 44.7% and a 59.72% success rate on recommended stocks.

Currently, the analyst consensus on D-Wave Quantum is a Strong Buy with an average price target of $38.33.

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Based on D-Wave Quantum’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.75 million and a GAAP net loss of $42.33 million. In comparison, last year the company earned a revenue of $2.31 million and had a GAAP net loss of $86.08 million

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