D-Wave Quantum Inc. closed at $0.95 in its most recent trading session, representing a decrease of -1.35% compared to the previous day. Although this change was less than the daily loss of 0.22% experienced by the S&P 500, it still reflects a decline in value. The Dow also lost 0.31% while the tech-heavy Nasdaq experienced a loss of 0.23%.
Over the past month, D-Wave Quantum Inc. has seen a significant decrease in value, with shares losing 30.18%. This performance lags behind the Computer and Technology sector’s gain of 3.73% and the S&P 500’s gain of 2.08% in the same period. Investors are eagerly anticipating the release of D-Wave Quantum Inc.’s next earnings report, hoping for a positive turnaround.
Analysts are projecting that D-Wave Quantum Inc. will report earnings of -$0.11 per share, which is expected to be the same as the previous year’s figure. However, the latest consensus estimate suggests that the company’s revenue will increase by 66.76% to $2.84 million compared to the prior-year quarter.
For the full year, Zacks Consensus Estimates are predicting earnings of -$0.56 per share and revenue of $10.96 million. These figures represent a decline of -30.23% and an increase of +52.73%, respectively, from the previous year. It is important to note that these estimates are subject to change as business trends fluctuate.
Analyst estimates for D-Wave Quantum Inc. have seen recent revisions. In general, positive estimate revisions can indicate a favorable outlook for a company’s business performance. These estimate changes are closely linked to short-term share price momentum, which investors can take advantage of using the Zacks Rank.
The Zacks Rank system rates stocks from #1 (Strong Buy) to #5 (Strong Sell) and has a proven track record of outperformance since 1988, with #1 stocks returning an average of +25% annually. Presently, D-Wave Quantum Inc. has a Zacks Rank of #2 (Buy).
D-Wave Quantum Inc. falls under the Internet – Software industry, which is part of the Computer and Technology sector. The industry has a Zacks Industry Rank of 102, placing it in the top 41% of all industries. According to research, industries with a top 50% rating outperform the bottom half by a ratio of 2 to 1.
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– Zacks Investment Research