Quantum Computing (QUBT) is set to report earnings on November 14 after the market closes. Of the publicly traded quantum names, QUBT stands out as one of the most speculative plays in the group. Despite boasting a $2.40 billion market cap and an 800% stock price rally over the past year, the company currently carries minimal analyst coverage. Recently, the company raised $500 million in new funding to help speed up product development and expand sales. Investors will look for signs that this money is starting to drive real business growth and new deals.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
What to Expect on November 14
Analysts predict that the quantum computing company’s EPS will come in at -$0.06 per share on revenue of around $117k. This is compared to -$0.26 and $61k, respectively, in the previous quarter.
Importantly, in its Q2 earnings call, the New Jersey-based quantum tech firm reported a surprise profit, posting earnings per share (EPS) of $0.11 versus an expected loss of $0.07. Revenue for the quarter came in at just $39,000, well below Wall Street’s estimate of $300,000.
For Friday’s report, investors will focus on how the company executes — progress on chip production, order delivery, and, most importantly, a clear path to steady revenue growth.
Analyst Raises Price Target on QUBT
Last month, Ascendiant analyst Edward Woo raised his price target to $40, up from $22, and maintained a Buy rating on the stock. Woo cited the company’s strong revenue growth as a key factor that could drive share price appreciation through 2025 and 2026.
Woo said that QUBT’s early entry into the fast-growing quantum computing space gives it a good chance to gain market share and benefit from industry growth. He also told investors to watch the company’s new products, adding that successful commercialization could significantly lift revenue in 2025 and beyond.
Is QUBT Stock a Buy, Hold, or Sell?
On TipRanks, QUBT stock has a Moderate Buy consensus rating based on two unanimous Buy ratings. The average Quantum Computing price target of $32 implies 151.97% upside potential from current levels.
