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

IonQ, Inc. (NYSE:IONQ) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $69.8750.

Several equities research analysts have weighed in on IONQ shares. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of IonQ in a report on Thursday, June 11th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of IonQ in a research report on Monday, May 4th. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. 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 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.

IonQ Trading Down 9.3%

Shares of IONQ stock opened at $38.89 on Tuesday. IonQ has a 12-month low of $25.89 and a 12-month high of $84.64. The business’s fifty day simple moving average is $55.68 and its 200-day simple moving average is $44.85. The company has a market cap of $14.52 billion, a PE ratio of -138.91 and a beta of 3.23.

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

Insider Transactions at IonQ

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider owned 139,967 shares in the company, valued at approximately $6,984,353.30. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the completion of the transaction, the director directly owned 62,608 shares in the company, valued at $3,444,692.16. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,102 shares of company stock valued at $701,489 in the last quarter. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On IonQ

Several hedge funds and other institutional investors have recently bought and sold shares of IONQ. Bogart Wealth LLC lifted its stake in IonQ by 24.4% during the 1st quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after acquiring an additional 250 shares during the period. Lauer Wealth LLC increased its stake in shares of IonQ by 5.3% in the fourth quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock worth $229,000 after acquiring an additional 255 shares during the period. Beaird Harris Wealth Management LLC increased its stake in shares of IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 270 shares during the period. EverSource Wealth Advisors LLC lifted its position in IonQ by 50.5% during 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 period. 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. Institutional investors and hedge funds own 41.42% of the company’s stock.

About IonQ

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.