Lake Street Reaffirms Their Buy Rating on Quantum Computing (QUBT)

In a report released today, Max Michaelis from Lake Street maintained a Buy rating on Quantum Computing, with a price target of $16.00.

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According to TipRanks, Michaelis is a 5-star analyst with an average return of 120.3% and a 76.47% success rate. Michaelis covers the Technology sector, focusing on stocks such as Ondas Holdings, Quantum Computing, and Aehr Test Systems.

In addition to Lake Street, Quantum Computing also received a Buy from TipRanks – Google’s Google Computer Hardware in a report issued today. However, on the same day, TipRanks – xAI reiterated a Hold rating on Quantum Computing (NASDAQ: QUBT).

Based on Quantum Computing’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $384 thousand and a net profit of $2.36 million. In comparison, last year the company earned a revenue of $101 thousand and had a GAAP net loss of $5.68 million

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QUBT in relation to earlier this year. Last month, Milan Begliarbekov, the Chief Operating Officer of QUBT sold 2,860.00 shares for a total of $33,891.00.