Quantum stocks saw bullish analyst coverage this week and announced dates for second-quarter earnings releases.
Here's a look at what happened in the quantum computing sector.
D-Wave Quantum
This week B. Riley Securities analyst Craig Ellis maintained D-Wave Quantum (NYSE:QBTS) shares with a Buy rating and raised the price target from $20 to $22.
Canaccord Genuity also initiated coverage on the quantum computing company with a Buy rating and a $20 price target sending shares 11% higher on Wednesday.
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On Monday, D-Wave released a study revealing that 81% of surveyed business leaders believe they have reached the limits of classical computing and 73% of corporate leaders anticipate a return on investment exceeding $1 million within the first year of adopting quantum solutions.
D-Wave CEO Dr. Alan Baratz stated the findings reflect "strong momentum toward enterprise adoption."
D-Wave is set to report its second-quarter financial results on Aug. 7 before the opening bell and will host a conference call to discuss the results at 8:00 a.m. ET the same day.
Analysts expect the company to report losses of five cents per share and quarterly revenue of $2.63 million, according to estimates from Benzinga Pro.
IonQ
Earlier this week, IonQ, Inc. (NYSE:IONQ) announced a strategic collaboration with Emergence Quantum, an Australian research and development company founded by former members of Microsoft's quantum computing team.
"This initiative will give IonQ significant access to a world-class team of Ph.D. quantum scientists that brings forward decades of experience in cryogenic electronics and quantum engineering," said Dean Kassmann, SVP of IonQ’s engineering and technology division.
Rigetti
On Wednesday, B. Riley Securities analyst Craig Ellis maintained a Buy rating on Rigetti Computing, Inc. (NASDAQ:RGTI) shares and raised the price target from $15 to $19.
Rigetti announced it will release its second-quarter financial results on Aug. 12 after the closing bell and will host a conference call to discuss the results and at 5:00 p.m. ET the same day.
Analysts expect the company to report losses of four cents per share and quarterly revenue of $1.88 million, according to estimates from Benzinga Pro.
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