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D-Wave Quantum Inc. (QBTS) Advances While Market Declines: Some Information for Investors
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D-Wave Quantum Inc. (QBTS - Free Report) closed the most recent trading day at $2.08, moving +0.97% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.65% for the day. On the other hand, the Dow registered a loss of 0.49%, and the technology-centric Nasdaq decreased by 0.96%.
Heading into today, shares of the company had gained 4.04% over the past month, outpacing the Computer and Technology sector's gain of 2.19% and the S&P 500's gain of 3.27% in that time.
The investment community will be paying close attention to the earnings performance of D-Wave Quantum Inc. in its upcoming release. The company is slated to reveal its earnings on March 28, 2024. On that day, D-Wave Quantum Inc. is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $4.86 million, up 102.29% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for D-Wave Quantum Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. D-Wave Quantum Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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D-Wave Quantum Inc. (QBTS) Advances While Market Declines: Some Information for Investors
D-Wave Quantum Inc. (QBTS - Free Report) closed the most recent trading day at $2.08, moving +0.97% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.65% for the day. On the other hand, the Dow registered a loss of 0.49%, and the technology-centric Nasdaq decreased by 0.96%.
Heading into today, shares of the company had gained 4.04% over the past month, outpacing the Computer and Technology sector's gain of 2.19% and the S&P 500's gain of 3.27% in that time.
The investment community will be paying close attention to the earnings performance of D-Wave Quantum Inc. in its upcoming release. The company is slated to reveal its earnings on March 28, 2024. On that day, D-Wave Quantum Inc. is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $4.86 million, up 102.29% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for D-Wave Quantum Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. D-Wave Quantum Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.