IonQ (NYSE:IONQ) Shares Up 5.8% – Time to Buy?

IonQ, Inc. (NYSE:IONQ)’s stock price shot up 5.8% during mid-day trading on Monday . The stock traded as high as $63.56 and last traded at $61.2140. 25,144,330 shares were traded during trading, a decline of 6% from the average session volume of 26,721,451 shares. The stock had previously closed at $57.85.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ introduced Clavis XG Multiplex, a new quantum key distribution product aimed at making quantum security more practical and scalable for metro fiber networks, which could support future enterprise adoption. Article Title
• Positive Sentiment: A Zacks analyst note highlighted IonQ’s commercialization momentum, including a presold 256-qubit system and cost-discipline efforts, reinforcing the company’s growth narrative despite heavy R&D spending. Article Title
• Positive Sentiment: Rosenblatt reiterated a Buy rating and $100 price target, signaling that some Wall Street analysts still see substantial upside. Article Title
• Neutral Sentiment: The Motley Fool noted IonQ remains a sector leader with record revenue growth and a large backlog, but it still trades at a premium valuation, which can keep volatility high. Article Title
• Negative Sentiment: Shares fell alongside other quantum computing names as the sector’s recent rally reversed, suggesting some of the decline is driven by profit-taking and broader sentiment toward the group. Article Title
• Negative Sentiment: Investor attention also remains on IonQ’s losses and heavy R&D spending, which continue to weigh on profitability despite strong revenue growth. Article Title

Analysts Set New Price Targets

Several brokerages have issued reports on IONQ. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of IonQ in a research report on Monday, May 4th. Needham & Company LLC dropped their target price on IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of IonQ in a research report on Thursday, June 11th. Jefferies Financial Group set a $85.00 target price on IonQ in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

IonQ Stock Down 2.1%

The company’s 50 day moving average price is $51.90 and its two-hundred day moving average price is $44.84. The stock has a market cap of $20.49 billion, a P/E ratio of -196.06 and a beta of 3.18.

IonQ (NYSE:IONQ) last posted its quarterly earnings results 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). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. During the same period in the prior year, the firm posted ($0.14) EPS. The business’s revenue was up 754.7% on a year-over-year basis. As a group, equities research analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current year.

Insider Buying and Selling at IonQ

In other news, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider directly owned 139,967 shares of the company’s stock, valued at $6,984,353.30. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On IonQ

Several hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC boosted its holdings in IonQ by 24.4% in the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares during the last quarter. Lauer Wealth LLC boosted its holdings in IonQ by 5.3% in the fourth quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock valued at $229,000 after purchasing an additional 255 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in IonQ by 50.5% in the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after purchasing an additional 279 shares during the last quarter. Finally, ABN Amro Investment Solutions boosted its holdings in IonQ by 2.5% in the first quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company’s stock valued at $355,000 after purchasing an additional 295 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

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.