Analysts Set IonQ, Inc. (NYSE:IONQ) PT at $75.91

IonQ, Inc. (NYSE:IONQ) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $75.9091.

Several brokerages have weighed in on IONQ. Morgan Stanley increased their price objective on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Wedbush began coverage on IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price objective on shares of IonQ in a report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Thursday, January 22nd.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $33.64 on Friday. The company has a market capitalization of $11.69 billion, a P/E ratio of -6.29 and a beta of 2.63. IonQ has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The company’s 50-day moving average is $46.59 and its 200 day moving average is $50.94.

Insider Transactions at IonQ

In related news, Director Kathryn K. Chou sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director owned 60,839 shares of the company’s stock, valued at approximately $3,346,145. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 100,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the completion of the sale, the executive owned 432,616 shares in the company, valued at $20,285,364.24. This represents a 18.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 125,000 shares of company stock worth $5,992,000. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On IonQ

Large investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its holdings in shares of IonQ by 28.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock valued at $40,000 after acquiring an additional 223 shares in the last quarter. Hilltop National Bank raised its position in IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares during the period. International Assets Investment Management LLC lifted its stake in IonQ by 4.3% in the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock worth $349,000 after purchasing an additional 235 shares during the last quarter. Lauer Wealth LLC boosted its position in IonQ by 5.5% during the third quarter. Lauer Wealth LLC now owns 4,852 shares of the company’s stock valued at $298,000 after buying an additional 255 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of IonQ by 11.8% during the third quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock valued at $153,000 after buying an additional 261 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.