IonQ, Inc. (NYSE:IONQ) Receives $16.50 Consensus Price Target from Brokerages

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.50.

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of IonQ in a research note on Thursday, February 29th.

Insider Activity

In other IonQ news, CFO Thomas G. Kramer sold 19,672 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $200,654.40. Following the transaction, the chief financial officer now owns 954,224 shares in the company, valued at approximately $9,733,084.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Thomas G. Kramer sold 19,672 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $200,654.40. Following the sale, the chief financial officer now directly owns 954,224 shares of the company’s stock, valued at approximately $9,733,084.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Hume Chapman sold 29,452 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $300,410.40. Following the sale, the chief executive officer now directly owns 451,233 shares in the company, valued at approximately $4,602,576.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,556 shares of company stock valued at $882,871. Corporate insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IONQ. Quantbot Technologies LP purchased a new position in IonQ in the 2nd quarter worth approximately $28,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of IonQ during the fourth quarter valued at $37,000. Harbour Investments Inc. lifted its holdings in shares of IonQ by 193.2% during the second quarter. Harbour Investments Inc. now owns 2,932 shares of the company’s stock valued at $40,000 after purchasing an additional 1,932 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of IonQ during the second quarter valued at $44,000. Finally, KBC Group NV bought a new stake in IonQ in the 4th quarter worth about $50,000. Institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

Shares of IONQ stock opened at $7.09 on Friday. The business has a 50-day moving average of $9.66 and a 200 day moving average of $11.38. IonQ has a 1-year low of $5.29 and a 1-year high of $21.60. The stock has a market capitalization of $1.48 billion, a PE ratio of -9.09 and a beta of 2.14.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The firm had revenue of $6.11 million during the quarter, compared to analyst estimates of $5.70 million. Analysts anticipate that IonQ will post -1.24 EPS for the current year.

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.