IonQ (NYSE:IONQ) Stock Rating Reaffirmed as “Buy” by Rosenblatt Securities

IonQ (NYSE:IONQ)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a research note issued on Tuesday, Benzinga reports. They presently have a $100.00 price objective on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 185.37% from the company’s previous close.

A number of other research firms have also issued reports on IONQ. Bank of America assumed coverage on shares of IonQ in a research note on Monday, September 28th. They set a “buy” rating and a $60.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of IonQ in a research report on Wednesday, September 9th. Weiss Ratings downgraded shares of IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Mizuho dropped their price target on shares of IonQ from $61.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Finally, Benchmark restated a “buy” rating and set a $60.00 price target on shares of IonQ in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.83.

IonQ Trading Down 3.4%

IonQ stock traded down $1.23 during midday trading on Tuesday, reaching $35.04. 13,202,413 shares of the stock traded hands, compared to its average volume of 24,483,543. The firm has a fifty day moving average price of $41.36 and a two-hundred day moving average price of $44.78. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of -7.52 and a beta of 3.36. IonQ has a fifty-two week low of $25.89 and a fifty-two week high of $81.08.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.23. The firm had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. IonQ’s revenue was up 286.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.70) EPS. Analysts anticipate that IonQ will post -2.11 earnings per share for the current year.

Insider Activity at IonQ

In other IonQ news, insider John Raymond sold 2,407 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $37.21, for a total transaction of $89,564.47. Following the sale, the insider directly owned 77,741 shares in the company, valued at approximately $2,892,742.61. The trade was a 3.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in IonQ by 96.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 125,556 shares of the company’s stock valued at $3,620,000 after buying an additional 61,656 shares during the period. Simplicity Wealth LLC acquired a new position in IonQ in the 2nd quarter valued at approximately $981,000. Swedbank AB increased its stake in IonQ by 147.7% in the 1st quarter. Swedbank AB now owns 149,503 shares of the company’s stock valued at $4,310,000 after buying an additional 89,148 shares during the period. Weiss Asset Management LP acquired a new position in IonQ in the 1st quarter valued at approximately $663,000. Finally, Virtus Advisers LLC acquired a new position in IonQ in the 2nd quarter valued at approximately $726,000. 41.42% of the stock is currently owned by institutional investors.

More IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Analyst support: Rosenblatt Securities reaffirmed its “buy” rating and assigned a $100 price target, indicating significant potential upside if IonQ executes on its growth strategy. Benzinga analyst report
• Positive Sentiment: Quantum networking breakthrough: IonQ reported achieving 1,032 entangled pairs per second—approximately a 1 kHz rate—between trapped-ion qubits and solid-state quantum memory. The development could support larger, networked quantum-computing systems. IonQ quantum interconnect breakthrough
• Positive Sentiment: Government opportunity: The Pentagon’s approximately $350 million quantum initiative and IonQ’s progress in DARPA’s Quantum Benchmarking Initiative could lead to additional government contracts, although the timing and revenue impact remain uncertain. Pentagon quantum funding article
• Positive Sentiment: SkyWater partnership: D-Wave Quantum agreed to a multiyear arrangement with SkyWater Technology, which IonQ owns, highlighting SkyWater’s foundry capabilities and potentially strengthening IonQ’s position in the quantum supply chain. D-Wave and SkyWater partnership
• Neutral Sentiment: Elisity strategic rationale: IonQ plans to acquire zero-trust cybersecurity provider Elisity in an all-stock transaction valued at up to $1.3 billion, including as much as $150 million in performance-based earnouts. Management expects the combination to pair Elisity’s enterprise security platform with IonQ’s post-quantum cryptography and quantum key-distribution technologies. IonQ Elisity acquisition
• Negative Sentiment: Dilution concerns: Because IonQ is funding the Elisity purchase entirely with stock, investors are concerned about the number of new shares issued and whether the acquisition price is justified while IonQ remains unprofitable. The share issuance will be based on a 20-day average price within a collar of approximately $33.07 to $49.61, contributing to the selloff.
• Negative Sentiment: Execution and valuation risk: The transaction expands IonQ beyond quantum hardware into cybersecurity software, but integration costs, uncertain commercial quantum timelines and IonQ’s high valuation could limit near-term returns if Elisity fails to scale as expected.

IonQ Company Profile

IonQ, Inc is a quantum computing company that develops and commercializes quantum computers based on trapped-ion technology. Its systems are designed to perform specialized computations that may eventually support applications in areas such as optimization, materials science, drug discovery, financial modeling and artificial intelligence.

The company offers access to its quantum processors through cloud platforms, including Amazon Web Services’ Amazon Braket, Microsoft Azure Quantum and Google Cloud.