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D-Wave Quantum Inc. (QBTS) Outperforms Broader Market: What You Need to Know
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In the latest market close, D-Wave Quantum Inc. (QBTS - Free Report) reached $0.79, with a +1.48% movement compared to the previous day. This change outpaced the S&P 500's 0.73% gain on the day. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Coming into today, shares of the company had lost 19.86% in the past month. In that same time, the Computer and Technology sector lost 0.22%, while the S&P 500 lost 2.29%.
The investment community will be paying close attention to the earnings performance of D-Wave Quantum Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.11, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.84 million, up 66.76% from the year-ago period.
QBTS's full-year Zacks Consensus Estimates are calling for earnings of -$0.56 per share and revenue of $10.96 million. These results would represent year-over-year changes of -30.23% and +52.73%, respectively.
It is also important to note the recent changes to analyst estimates for D-Wave Quantum Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. D-Wave Quantum Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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D-Wave Quantum Inc. (QBTS) Outperforms Broader Market: What You Need to Know
In the latest market close, D-Wave Quantum Inc. (QBTS - Free Report) reached $0.79, with a +1.48% movement compared to the previous day. This change outpaced the S&P 500's 0.73% gain on the day. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Coming into today, shares of the company had lost 19.86% in the past month. In that same time, the Computer and Technology sector lost 0.22%, while the S&P 500 lost 2.29%.
The investment community will be paying close attention to the earnings performance of D-Wave Quantum Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.11, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.84 million, up 66.76% from the year-ago period.
QBTS's full-year Zacks Consensus Estimates are calling for earnings of -$0.56 per share and revenue of $10.96 million. These results would represent year-over-year changes of -30.23% and +52.73%, respectively.
It is also important to note the recent changes to analyst estimates for D-Wave Quantum Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. D-Wave Quantum Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.