IonQ, Inc. (NYSE:IONQ) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $69.4583.

A number of analysts have weighed in on IONQ shares. Jefferies Financial Group set a $85.00 price target on IonQ in a report on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of IonQ in a research note on Monday, May 4th. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of IonQ in a research report on Thursday, June 11th. Northland Securities raised their target price on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, Morgan Stanley set a $48.50 target price on IonQ in a research note on Thursday, May 7th.

IonQ Stock Up 1.8%

IONQ opened at $36.42 on Friday. IonQ has a twelve month low of $25.89 and a twelve month high of $84.64. The company has a fifty day moving average of $50.56 and a 200-day moving average of $43.63. The stock has a market cap of $13.59 billion, a PE ratio of -130.07 and a beta of 3.23.

IonQ (NYSE:IONQ) last announced its earnings results 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). The firm had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.IonQ’s quarterly revenue was up 754.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) EPS. Sell-side analysts anticipate that IonQ will post -2.26 EPS for the current fiscal year.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ completed its acquisition of SkyWater Technology, giving it direct access to domestic semiconductor-fabrication capabilities. Management says the combination will support a vertically integrated quantum platform spanning quantum foundry operations, advanced packaging and manufacturing. IonQ Completes Acquisition of SkyWater Technology
• Positive Sentiment: The SkyWater deal could improve IonQ’s hardware roadmap by reducing reliance on outside chip suppliers and strengthening its position in the U.S. quantum ecosystem. Wedbush viewed regulatory approval for the transaction as a potential roadmap improvement. Wedbush on IonQ’s SkyWater acquisition
• Positive Sentiment: Some analysts and commentators remain bullish on IonQ’s trapped-ion technology and cite its accuracy advantage over certain competitors. That optimism, combined with the acquisition, is helping frame IonQ as one of the stronger long-term quantum-computing candidates. IonQ bullish stance and rating upgrade
• Neutral Sentiment: IonQ is among the most heavily searched stocks on Zacks, indicating heightened investor interest but not necessarily a change in the company’s fundamentals. Investors heavily search IonQ
• Negative Sentiment: Investors are also looking ahead to IonQ’s expected second-quarter earnings report on August 5. The event could intensify volatility, particularly after the company’s latest quarterly earnings-per-share miss despite strong revenue growth.
• Negative Sentiment: The broader quantum-computing and technology sectors remain under pressure after a significant sell-off. IonQ’s high valuation, continued losses and highly speculative profile leave the stock vulnerable if earnings, guidance or acquisition integration do not meet expectations. Quantum earnings and sector sell-off

Insiders Place Their Bets

In other IonQ news, insider John W. Raymond sold 3,815 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $209,863.15. Following the transaction, the insider directly owned 80,148 shares in the company, valued at approximately $4,408,941.48. This represents a 4.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the sale, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,102 shares of company stock valued at $701,489 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC increased its stake in IonQ by 24.4% in the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares during the period. EverSource Wealth Advisors LLC increased its position in IonQ by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after buying an additional 279 shares in the last quarter. ABN Amro Investment Solutions increased its position in IonQ by 2.5% in the 1st quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company’s stock valued at $355,000 after buying an additional 295 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in IonQ by 26.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,491 shares of the company’s stock worth $79,000 after buying an additional 309 shares during the period. 41.42% of the stock is owned by institutional investors.

IonQ Company Profile

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.