IonQ, Inc. (NYSE:IONQ) Receives Average Rating of “Moderate Buy” from Brokerages

IonQ, Inc. (NYSE:IONQGet Free Report) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $68.6250.

A number of equities analysts have recently commented on IONQ shares. DA Davidson reduced their price objective on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of IonQ in a report on Monday, May 4th. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group set a $85.00 price objective on shares of IonQ in a report on Thursday, May 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a report on Monday, February 9th.

Check Out Our Latest Research Report on IONQ

IonQ Stock Down 0.2%

Shares of IONQ opened at $63.54 on Monday. The stock’s 50-day moving average price is $40.37 and its 200 day moving average price is $43.17. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of -226.93 and a beta of 3.05. IonQ has a 12-month low of $25.89 and a 12-month high of $84.64.

IonQ (NYSE:IONQGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.IonQ’s revenue for the quarter was up 754.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) EPS. Equities research analysts expect that IonQ will post -2.26 EPS for the current year.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 5,165 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $39.44, for a total transaction of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares of the company’s stock, valued at approximately $4,428,757.04. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John W. Raymond sold 2,800 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at $2,799,326.42. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,354 shares of company stock valued at $504,428. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On IonQ

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cim Investment Management Inc. acquired a new stake in shares of IonQ in the 1st quarter valued at $481,000. JTC Employer Solutions Trustee Ltd boosted its stake in shares of IonQ by 62.8% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 10,372 shares of the company’s stock valued at $299,000 after purchasing an additional 4,000 shares in the last quarter. Encore Global Management LP acquired a new stake in shares of IonQ in the 1st quarter valued at $577,000. EverSource Wealth Advisors LLC boosted its stake in shares of IonQ by 216.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock valued at $28,000 after purchasing an additional 656 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of IonQ by 862.9% in the 1st quarter. Empowered Funds LLC now owns 47,280 shares of the company’s stock valued at $1,363,000 after purchasing an additional 42,370 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Company Profile

(Get Free Report)

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.

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Analyst Recommendations for IonQ (NYSE:IONQ)

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