Needham & Company LLC Begins Coverage on Horizon Quantum Computing Pte. (NASDAQ:HQ)

Research analysts at Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. (NASDAQ:HQ) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the quantum computing company’s stock. Needham & Company LLC’s price target points to a potential upside of 44.20% from the company’s previous close.

Several other research analysts have also weighed in on HQ. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday. Wall Street Zen lowered Horizon Quantum Computing Pte. to a “strong sell” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Trading Up 9.1%

NASDAQ:HQ opened at $13.87 on Wednesday. The stock has a market capitalization of $715.41 million, a price-to-earnings ratio of -7.08 and a beta of 0.65. Horizon Quantum Computing Pte. has a 1-year low of $8.29 and a 1-year high of $14.65.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its quarterly earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) earnings per share (EPS) for the quarter.

About Horizon Quantum Computing Pte.

Horizon Quantum Holdings Ltd. is a quantum software infrastructure company focused on tools and systems that help developers build and deploy quantum applications. The company emphasizes software, algorithms, and workflow infrastructure intended to support practical quantum and hybrid quantum-classical use cases.

Horizon Quantum became a public company through its business combination with dMY Squared Technology Group, Inc (DMYY), which was formed to take a private company public through a business combination.