D-Wave Quantum's Stock Price Target Lowered Amid Revenue Contraction
D-Wave Quantum's revenue experienced a decline of 81% as a $33.4 million bookings surge masks the contraction. Analysts have lowered their stock price targets, citing concerns about the company's financials.
D-Wave Quantum reported a significant revenue decline, with a loss of 81% in the latest quarter. The company attributes this drop to a revenue contractions despite a surge in $33.4 million bookings.
Investors have responded negatively to these developments, with stock price target revisions across several analyst firms. TipRanks lowered its price target to $40 from $43, while Mizuho reduced its target to $29.00.
Mizuho cited the significant revenue miss as the reason for their revised estimate. Evercore ISI also expressed concerns about D-Wave Quantum's valuation.
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