IonQ, Inc. (NYSE:IONQ) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $69.8750.

A number of brokerages have recently issued reports on IONQ. JPMorgan Chase & Co. increased their target price on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group set a $85.00 price target on IonQ in a research note on Thursday, May 7th. Morgan Stanley set a $48.50 price objective on IonQ in a research note on Thursday, May 7th. Northland Securities lifted their price objective on IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th.

Insider Activity

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction dated 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 approximately $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John W. Raymond sold 3,815 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $209,863.15. Following the sale, the insider directly owned 80,148 shares of the company’s stock, valued at approximately $4,408,941.48. The trade was a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 13,102 shares of company stock worth $701,489. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On IonQ

Large investors have recently bought and sold shares of the business. CoreCap Advisors LLC increased its holdings in IonQ by 35.9% during the 2nd quarter. CoreCap Advisors LLC now owns 4,317 shares of the company’s stock valued at $230,000 after purchasing an additional 1,140 shares in the last quarter. Versant Capital Management Inc raised its position in IonQ by 26.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,491 shares of the company’s stock valued at $79,000 after purchasing an additional 309 shares during the last quarter. Rathbones Group PLC boosted its stake in IonQ by 13.0% in the first quarter. Rathbones Group PLC now owns 13,032 shares of the company’s stock worth $376,000 after purchasing an additional 1,500 shares in the last quarter. NewEdge Advisors LLC boosted its stake in IonQ by 7.0% in the first quarter. NewEdge Advisors LLC now owns 24,747 shares of the company’s stock worth $713,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of IonQ by 1,556.8% during the first quarter. Asset Dedication LLC now owns 2,071 shares of the company’s stock worth $60,000 after purchasing an additional 1,946 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

IonQ Price Performance

Shares of IonQ stock traded down $2.93 during trading on Tuesday, hitting $45.94. 10,132,338 shares of the company’s stock traded hands, compared to its average volume of 26,318,148. The firm’s fifty day moving average price is $55.58 and its 200 day moving average price is $45.06. IonQ has a twelve month low of $25.89 and a twelve month high of $84.64. The company has a market cap of $17.15 billion, a PE ratio of -163.49 and a beta of 3.23.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The business had revenue of $64.67 million during 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%.The business’s revenue for the quarter was up 754.7% on a year-over-year basis. During the same period last year, the company earned ($0.14) EPS. As a group, equities research analysts anticipate that IonQ will post -2.26 earnings per share for the current year.

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.