D-Wave Quantum Inc. QBTS shares soared 11.9% in the last trading session to close at $26.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 62.2% gain over the past four weeks.
D-Wave Quantum is benefiting from strong demand for its Advantage2 quantum systems, expanding quantum AI applications, and strategic partnerships.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +36.4%. Revenues are expected to be $3.12 million, up 66.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For D-WAVE QUANTUM, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QBTS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
D-WAVE QUANTUM is a member of the Zacks Internet - Software industry. One other stock in the same industry, Global Business Travel Group, Inc. GBTG, finished the last trading session 1% lower at $8.14. GBTG has returned 3% over the past month.
For Global Business Travel Group, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. This represents a change of +109.1% from what the company reported a year ago. Global Business Travel Group, Inc. currently has a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
