Stock market today: Nasdaq closes above 23,000 for first time as tech rebounds
D Wave Quantum Inc’s stock reached an all-time high of 20.56 USD, marking a significant milestone for the company. According to InvestingPro data, analysts have set price targets ranging from $20 to $30, suggesting potential further upside. The company’s financial health score is rated as "FAIR" with particularly strong price momentum metrics. This achievement underscores the remarkable growth trajectory the company has experienced over the past year. The stock has surged by an impressive 1889.44% in the last 12 months, with notable gains of 70% over the past six months. The company maintains impressive gross profit margins of 82% and holds more cash than debt on its balance sheet, reflecting strong investor confidence and interest in the company’s quantum computing advancements. This substantial increase highlights the company’s potential and the growing market interest in quantum technology. Discover 13 additional key insights about D Wave Quantum with an InvestingPro subscription.
In other recent news, D-Wave Quantum Inc. reported its second-quarter earnings for fiscal year 2025, revealing a wider-than-expected loss per share. The company posted an earnings per share of -$0.08, missing the forecasted -$0.05. However, revenue reached $3.1 million, surpassing expectations of $2.59 million. In addition, D-Wave announced an 83% increase in bookings for its annealing quantum computing technology in the Asia Pacific region over the past 12 months. Benchmark reiterated its Buy rating for D-Wave, highlighting the company’s strong momentum across technology, customer, and financial fronts. Piper Sandler raised its price target on D-Wave to $22.00 from $13.00, citing the company’s June quarter earnings that slightly exceeded expectations. The firm also noted the benefits D-Wave is experiencing from its Advantage2 system and general quantum computing traction. These developments reflect D-Wave’s ongoing efforts to strengthen its position in the quantum computing market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.