D-Wave Quantum price target lowered to $3 from $4 at Benchmark

Benchmark lowered the firm’s price target on D-Wave Quantum to $3 from $4 and keeps a Buy rating on the shares. D-Wave reported continued progress on the technology and commercialization front in its Q2 reported, and bookings momentum continued with nine consecutive quarters of annual growth, the analyst tells investors in a research note. The firm expects the Professional Services revenue to recover later this year as the revamped sales team re-accelerate customer engagement.