IonQ, Inc. (NYSE:IONQ) Receives $75.91 Consensus Target Price from Brokerages

Shares of IonQ, Inc. (NYSE:IONQGet Free Report) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $75.9091.

IONQ has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Thursday, January 22nd. DA Davidson raised their price objective on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Mizuho initiated coverage on IonQ in a report on Thursday, December 11th. They set an “outperform” rating and a $90.00 target price for the company.

Check Out Our Latest Research Report on IonQ

Insider Activity at IonQ

In other news, CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total value of $4,689,000.00. Following the sale, the executive directly owned 432,616 shares of the company’s stock, valued at $20,285,364.24. This represents a 18.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn K. Chou sold 5,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director directly owned 60,839 shares of the company’s stock, valued at approximately $3,346,145. This trade represents a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 125,000 shares of company stock valued at $5,992,000. Company insiders own 5.20% of the company’s stock.

Institutional Trading of IonQ

A number of hedge funds have recently modified their holdings of IONQ. CreativeOne Wealth LLC grew its holdings in IonQ by 81.2% during the fourth quarter. CreativeOne Wealth LLC now owns 7,223 shares of the company’s stock worth $324,000 after acquiring an additional 3,237 shares during the period. Kestra Advisory Services LLC grew its stake in shares of IonQ by 5.1% during the 4th quarter. Kestra Advisory Services LLC now owns 168,889 shares of the company’s stock worth $7,578,000 after purchasing an additional 8,158 shares during the period. Marshall Wace LLP increased its holdings in shares of IonQ by 18.1% during the 4th quarter. Marshall Wace LLP now owns 193,036 shares of the company’s stock valued at $8,662,000 after purchasing an additional 29,595 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of IonQ by 20.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 174,835 shares of the company’s stock valued at $7,847,000 after purchasing an additional 30,035 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of IonQ by 21.3% in the 4th quarter. Stifel Financial Corp now owns 39,166 shares of the company’s stock valued at $1,757,000 after purchasing an additional 6,880 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

IonQ Stock Up 9.2%

IONQ opened at $34.18 on Friday. The firm’s 50-day moving average price is $45.75 and its 200-day moving average price is $50.75. The company has a market cap of $11.87 billion, a P/E ratio of -6.39 and a beta of 2.63. IonQ has a 52-week low of $17.88 and a 52-week high of $84.64.

About IonQ

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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.

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Analyst Recommendations for IonQ (NYSE:IONQ)

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