IonQ (NYSE:IONQ) Shares Up 1.4% – Should You Buy?

Shares of IonQ, Inc. (NYSE:IONQ) shot up 1.4% during trading on Monday . The company traded as high as $49.25 and last traded at $47.8450. 22,519,882 shares were traded during trading, a decline of 9% from the average session volume of 24,618,416 shares. The stock had previously closed at $47.18.

Wall Street Analyst Weigh In

Several research firms recently commented on IONQ. DA Davidson raised their price objective on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of IonQ in a report on Thursday, November 6th. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Rosenblatt Securities boosted their price objective on IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald raised their target price on IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, IonQ has a consensus rating of “Hold” and a consensus target price of $68.11.

IonQ Price Performance

The company has a fifty day moving average price of $62.45 and a 200 day moving average price of $47.95. The company has a market cap of $16.62 billion, a PE ratio of -8.94 and a beta of 2.59.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The company had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. During the same period in the prior year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at IonQ

In related news, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the transaction, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Teuber, Jr. purchased 2,000 shares of the stock in a transaction on Tuesday, November 11th. The shares were purchased at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the transaction, the director directly owned 6,413 shares of the company’s stock, valued at approximately $351,496.53. This represents a 45.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 113,622 shares of company stock worth $4,931,896 in the last three months. 5.20% of the stock is owned by insiders.

Institutional Trading of IonQ

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in IonQ by 18.5% during the third quarter. Vanguard Group Inc. now owns 29,354,706 shares of the company’s stock valued at $1,805,314,000 after acquiring an additional 4,587,260 shares during the last quarter. State Street Corp lifted its holdings in shares of IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock worth $387,423,000 after acquiring an additional 1,043,878 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of IonQ by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock valued at $229,422,000 after purchasing an additional 705,301 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of IonQ by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company’s stock valued at $184,992,000 after purchasing an additional 333,653 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of IonQ by 30.3% during the 3rd quarter. Northern Trust Corp now owns 2,737,026 shares of the company’s stock valued at $168,327,000 after purchasing an additional 636,482 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

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.