Pasqal (NASDAQ:PSQL) Earns “Buy” Rating from Canaccord Genuity Group

Pasqal (NASDAQ:PSQL)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity Group in a research report issued on Monday, Benzinga reports. They currently have a $16.00 price target on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 160.59% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group set a $16.00 target price on Pasqal in a report on Tuesday, September 22nd. Zacks Research upgraded Pasqal to a “hold” rating in a report on Thursday, September 24th. Finally, Roth Capital started coverage on shares of Pasqal in a research note on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Pasqal currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

Pasqal Stock Performance

Shares of NASDAQ:PSQL opened at $6.14 on Monday. Pasqal has a 52-week low of $6.07 and a 52-week high of $24.69.

Pasqal Company Profile

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.