Needham & Company LLC Issues Pessimistic Forecast for Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price

Horizon Quantum Computing Pte. (NASDAQ:HQ) had its price objective dropped by stock analysts at Needham & Company LLC from $20.00 to $19.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the quantum computing company’s stock. Needham & Company LLC‘s price target would suggest a potential upside of 50.91% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Craig Hallum began coverage on Horizon Quantum Computing Pte. in a report on Monday, August 17th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Horizon Quantum Computing Pte. currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Horizon Quantum Computing Pte. Stock Performance

HQ stock opened at $12.59 on Wednesday. Horizon Quantum Computing Pte. has a 1 year low of $8.29 and a 1 year high of $45.00. The business has a 50 day simple moving average of $14.56 and a 200-day simple moving average of $15.39.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its quarterly earnings data on Tuesday, November 10th. The quantum computing company reported $0.55 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.