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Investing.com - Piper Sandler raised its price target on D-Wave Quantum Inc. (NYSE:QBTS) to $22.00 from $13.00 on Friday, while maintaining an Overweight rating on the quantum computing company’s stock. According to InvestingPro data, analyst targets now range from $20 to $30, with the stock already delivering an impressive 2,046% return over the past year.
The research firm cited D-Wave’s June quarter earnings, which came in slightly above expectations. Piper Sandler noted that D-Wave is currently benefiting from the availability of its Advantage2 system and general quantum computing traction that began during the June quarter. InvestingPro data reveals the company’s exceptional gross profit margins of 83% and strong revenue growth of 122% in the last twelve months.
D-Wave continues to work on quantum initiatives with key stakeholders in both commercial and government sectors, with customer count remaining above 100, according to the research note.
The company is also developing a gate-model system designed to address quantum chemistry and 3D fluid dynamics problems that cannot be solved with its current annealing-based systems.
Piper Sandler views D-Wave’s quantum progress as positive, stating that the company is "executing strongly on its initiatives," which supports the firm’s decision to maintain its Overweight rating while significantly increasing the price target.
In other recent news, D Wave Quantum Inc. reported its second-quarter earnings for fiscal year 2025, showing a mixed financial performance. The company experienced a wider-than-expected loss per share, posting an EPS of -$0.08, while analysts had anticipated a smaller loss of -$0.05. However, D Wave Quantum achieved a significant revenue beat, reporting $3.1 million in revenue, which exceeded the forecasted $2.59 million. These developments reflect the company’s ongoing financial challenges despite better-than-expected revenue figures. Investors have shown concern over the earnings miss, as indicated by the stock’s pre-market movement. Analyst firms have not yet publicly revised their ratings following this earnings report. These updates provide investors with insight into D Wave Quantum’s current financial status and market position.
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