IonQ’s (IONQ) “Buy” Rating Reiterated at Rosenblatt Securities

IonQ (NYSE:IONQ)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued on Tuesday, Benzinga reports. They currently have a $100.00 price objective on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 176.13% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley set a $49.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Bank of America initiated coverage on shares of IonQ in a research report on Monday, September 28th. They issued a “buy” rating and a $60.00 target price on the stock. Northland Securities boosted their target price on shares of IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, Benchmark reissued a “buy” rating and set a $60.00 target price on shares of IonQ in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IonQ has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

IonQ Price Performance

Shares of IONQ stock opened at $36.22 on Tuesday. IonQ has a 1-year low of $25.89 and a 1-year high of $84.64. The company has a market cap of $13.80 billion, a price-to-earnings ratio of -7.77 and a beta of 3.36. The stock has a 50 day simple moving average of $41.36 and a 200-day simple moving average of $44.78.

IonQ (NYSE:IONQ) last released its quarterly 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. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The firm had revenue of $80.05 million for the quarter, compared to analysts’ expectations of $66.47 million. During the same quarter last year, the company earned ($0.70) EPS. The firm’s revenue for the quarter was up 286.7% compared to the same quarter last year. Analysts anticipate that IonQ will post -2.11 earnings per share for the current fiscal year.

Insider Activity at IonQ

In other news, insider John Raymond sold 2,407 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $37.21, for a total value of $89,564.47. Following the transaction, the insider owned 77,741 shares in the company, valued at $2,892,742.61. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is owned by insiders.

Institutional Trading of IonQ

Large investors have recently made changes to their positions in the company. Gainplan LLC purchased a new stake in shares of IonQ during the third quarter worth approximately $449,000. GAMMA Investing LLC raised its stake in IonQ by 57.3% in the 3rd quarter. GAMMA Investing LLC now owns 5,865 shares of the company’s stock valued at $257,000 after purchasing an additional 2,136 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in IonQ by 51.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,961 shares of the company’s stock valued at $832,000 after purchasing an additional 6,437 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in IonQ by 46.5% in the 3rd quarter. CoreCap Advisors LLC now owns 6,323 shares of the company’s stock valued at $277,000 after purchasing an additional 2,006 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC lifted its holdings in IonQ by 9.3% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 218,605 shares of the company’s stock valued at $9,588,000 after purchasing an additional 18,605 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ reported a record 1 kHz entanglement rate between trapped-ion qubits and solid-state quantum memory. The advance could help the company scale quantum interconnects and build networked quantum data centers. IonQ’s Quantum Interconnect Breakthrough: What It Means for Scaling
• Positive Sentiment: A DARPA-focused analysis identified IonQ as a current leader in quantum-computing accuracy, supporting the company’s technology positioning as government and commercial interest in quantum computing grows. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now
• Positive Sentiment: IonQ expects its 256-qubit system to be available for sale in early 2027. Strong demand for the system could accelerate revenue growth, although the forecast remains speculative. Prediction: IonQ Stock Will Double by the End of 2027

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.