News

The latest trading session saw D-Wave Quantum Inc. (QBTS) ending at $2, denoting a +1.52% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 1.23%. Meanwhile, the Dow experienced a drop of 1.36%, and the technology-dominated Nasdaq saw a decrease of 1.4%.

The the stock of company has risen by 23.13% in the past month, leading the Computer and Technology sector's gain of 2.32% and the S&P 500's gain of 1.61%.

Analysts and investors alike will be keeping a close eye on the performance of D-Wave Quantum Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.08, indicating a 60% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.75 million, reflecting a 74.05% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.36 per share and revenue of $14.85 million. These totals would mark changes of +40% and +69.5%, respectively, from last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for D-Wave Quantum Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 35.71% increase. D-Wave Quantum Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 35, placing it within the top 14% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow QBTS in the coming trading sessions, be sure to utilize Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.