Sanford C. Bernstein Initiates Coverage on Quantinuum (NASDAQ:QNT)

Sanford C. Bernstein initiated coverage on shares of Quantinuum (NASDAQ:QNT) in a research note issued on Monday. The firm set an “outperform” rating and a $94.00 price target on the stock. Sanford C. Bernstein’s target price suggests a potential upside of 24.39% from the company’s previous close.

A number of other research firms have also commented on QNT. Mizuho started coverage on Quantinuum in a research report on Monday. They set an “outperform” rating and a $90.00 price target on the stock. Wall Street Zen raised Quantinuum to a “hold” rating in a research note on Saturday, June 20th. Bank of America started coverage on Quantinuum in a report on Monday. They set a “buy” rating and a $100.00 target price on the stock. Evercore started coverage on Quantinuum in a report on Monday. They issued an “outperform” rating and a $98.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating and a $90.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Quantinuum presently has a consensus rating of “Buy” and a consensus target price of $93.33.

Quantinuum Stock Performance

Shares of Quantinuum stock opened at $75.57 on Monday. Quantinuum has a 1-year low of $50.10 and a 1-year high of $81.48.

Insider Buying and Selling

In other news, Director Paul R. Daugherty acquired 4,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $240,000.00. Following the completion of the transaction, the director directly owned 9,833 shares in the company, valued at $589,980. This trade represents a 68.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin Scott Dehoff acquired 15,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, with a total value of $900,000.00. Following the completion of the acquisition, the insider directly owned 126,460 shares in the company, valued at approximately $7,587,600. The trade was a 13.46% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 411,032 shares of company stock worth $24,661,920.

About Quantinuum

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.