Quantum Holdings Maintains Hold Rating with $20 Price Target

Lake Street analyst Eric Martinuzzi maintains a Hold rating on Quantum with a $20.00 price target. The company reported a quarterly revenue of $72.55 million and a GAAP net loss of $71.43 million. The analyst consensus rating is Hold with a $19.00 average price target. Corporate insider sentiment is negative, with an increase in insiders selling their shares.

Andhra Pradesh has taken a significant step towards becoming a global quantum technology hub with the approval of the Amaravati Quantum Valley Declaration. The initiative, unveiled by the Andhra Pradesh government, aims to attract USD 1 billion in investments by 2029. The declaration outlines a strategic framework for advancing quantum technologies, fostering innovation, and creating a vibrant ecosystem [1].

The Quantum Valley Declaration includes plans to establish a Living Lab infrastructure, featuring India's largest open quantum testbed, QChipIN. IBM is expected to install its Quantum System Two by 2026, with the goal of testing 100 quantum algorithms by the same year. By 2029, the initiative aims to achieve 1,000 effective qubits of total quantum capacity [1].

The declaration also highlights the creation of a National Startup Forum with milestone-based VC funding and mentorship. A dedicated Rs 1,000 crore Quantum Fund will support at least 20 quantum hardware and security startups in the next year and 100 by 2030. The quantum valley aims to attract a minimum of USD 500 million in investments by 2027 and USD 1 billion by 2029 [1].

Analysts at Lake Street have maintained a Hold rating on Quantum with a $20.00 price target. The company reported a quarterly revenue of $72.55 million and a GAAP net loss of $71.43 million. The analyst consensus rating is Hold with a $19.00 average price target. Corporate insider sentiment is negative, with an increase in insiders selling their shares [3].

In contrast, SoundThinking, a company focusing on quantum technologies, has a consensus rating of "Moderate Buy" with an average price target of $22.13. The highest price target for SoundThinking is $30.00, while the lowest price target is $17.50. The average price target represents a forecasted upside of 39.59% from the current price of $15.85 [2].

Targa Resources, a natural gas liquids company, was initiated with a Hold rating by TD Cowen with a price target of $192.00. Despite acknowledging the company’s strong operational outlook, TD Cowen sees limited upside potential for Targa Resources at current levels [3].

References:
[1] https://economictimes.indiatimes.com/news/india/andhra-govt-unveils-amaravati-quantum-valley-plan-eyes-usd-1-bn-investment-by-2029/articleshow/122298618.cms
[2] https://www.marketbeat.com/stocks/NASDAQ/SSTI/forecast/
[3] https://au.investing.com/news/analyst-ratings/targa-resources-stock-initiated-with-hold-rating-at-td-cowen-on-growth-outlook-93CH-3916639