IonQ, Inc. (NYSE:IONQ) Receives $67.17 Consensus PT from Analysts

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $64.1818.

Several analysts recently issued reports on the company. B. Riley Financial reiterated a “buy” rating on shares of IonQ in a report on Wednesday, September 9th. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of IonQ in a research note on Thursday, August 6th. Morgan Stanley set a $49.00 target price on IonQ in a research report on Thursday, August 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of IonQ in a research report on Wednesday, September 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of IonQ in a research note on Wednesday, September 9th.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: South Korea partnership: IonQ will supply SDT with a Superion 256 quantum computer and silicon-vacancy quantum memory module. The companies also plan a hybrid quantum-classical data center, while SDT intends to establish a Gumi facility for IonQ system assembly, packaging and integration—expanding IonQ’s hardware and networking presence across Asia-Pacific. IonQ and SDT strategic partnership
• Positive Sentiment: Error-correction breakthrough: IonQ demonstrated what it described as the first real-time quantum error-correction decoder running on a single commodity CPU. The achievement could support more practical, fault-tolerant quantum systems by reducing the conventional computing resources needed for error correction. IonQ quantum error-correction decoder
• Positive Sentiment: Application and analyst momentum: Research with Synopsys indicated up to 14.6% faster engineering simulations, potentially improving the case for commercial workloads. Wedbush reaffirmed an Outperform rating with a $75 price target, well above the stock’s recent trading level. IonQ engineering workload research
• Neutral Sentiment: IonQ’s work with Oak Ridge National Laboratory and NVIDIA used generative AI to accelerate quantum circuit design. The technical progress is notable, but investors still need evidence that it will translate into material revenue. IonQ AI breakthrough and revenue outlook
• Negative Sentiment: Risk concerns include substantial shareholder dilution highlighted in recent coverage and continued insider selling. A report also noted that insiders across several quantum-computing companies have been net sellers, which may reinforce valuation and execution concerns. IonQ remains loss-making, making future commercialization especially important. Quantum computing insider selling warning

IonQ Stock Up 0.3%

IONQ opened at $40.65 on Friday. IonQ has a 52-week low of $25.89 and a 52-week high of $84.64. The company has a 50 day moving average of $39.26 and a two-hundred day moving average of $43.90. The company has a market cap of $15.49 billion, a P/E ratio of -8.72 and a beta of 3.30.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.23. The business had revenue of $80.05 million for the quarter, compared to the consensus estimate of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The business’s revenue for the quarter was up 286.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.70) EPS. Research analysts anticipate that IonQ will post -2.11 earnings per share for the current year.

Insider Buying and Selling

In other IonQ news, insider John Raymond sold 2,407 shares of the company’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 completion of the transaction, the insider owned 77,741 shares in the company, valued at $2,892,742.61. This represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Trading of IonQ

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in IonQ during the 2nd quarter valued at $1,112,945,000. Geode Capital Management LLC increased its stake in IonQ by 21.9% during the 4th quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock worth $361,624,000 after buying an additional 1,452,463 shares during the period. Bank of America Corp DE acquired a new position in IonQ in the 2nd quarter worth $344,757,000. Norges Bank acquired a new position in IonQ in the 4th quarter worth $199,753,000. Finally, Clear Street Group Inc. boosted its position in IonQ by 219.6% in the 4th quarter. Clear Street Group Inc. now owns 3,195,818 shares of the company’s stock valued at $143,396,000 after buying an additional 2,196,017 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

About IonQ

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 be difficult for classical computers, with potential applications in areas such as optimization, materials science, drug discovery, artificial intelligence and financial modeling.

The company provides access to its quantum processors through cloud platforms, including Amazon Web Services’ Amazon Braket, Microsoft Azure Quantum and Google Cloud.