Needham analyst Quinn Bolton has maintained their bullish stance on QBTS stock, giving a Buy rating today.
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Quinn Bolton has given his Buy rating due to a combination of factors that highlight D-Wave Quantum’s strong financial and strategic position. The company reported second-quarter revenue that surpassed expectations, largely due to a significant payment for an upgrade to their quantum processing unit, which indicates positive momentum in their business operations.
Additionally, D-Wave Quantum has bolstered its financial standing through recent equity offerings, resulting in the strongest cash balance in its history. This financial strength allows the company to aggressively invest in various areas, including mergers and acquisitions, quantum technology, manufacturing, and personnel. Furthermore, there is a notable increase in commercial customer activity across various sectors, and the pipeline for system sales has expanded significantly, suggesting robust future growth prospects.