Quantum Computing, Inc. (QUBT) PT Lowered to $10 at Cantor Fitzgerald

Cantor Fitzgerald analyst Troy Jensen lowered the price target on Quantum Computing, Inc. (NASDAQ: QUBT) to $10.00 (from $15.00) while maintaining a Neutral rating.

The analyst commented, "We believe Quantum can capture 5% of the quantum hardware, software, and services market by 2035, which would equate to $375 million in sales in 10 years. If we discount the forecasted 2035 sales back at a 10% rate, the present value of those sales is $159 million. With an estimated 230 million shares outstanding, this equates to a market cap of roughly $2.3 billion. With ~$1.5 billion of cash on the balance sheet, this equates to an EV/Sales ratio of 4.9x based on the Present Value of our estimated 2035 revenue forecast."

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