IonQ, Inc. (NYSE:IONQ) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of IonQ, Inc. (NYSE:IONQGet Free Report) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $68.6250.

A number of equities research analysts have commented on IONQ shares. JPMorgan Chase & Co. raised their price objective on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Northland Securities started coverage on IonQ in a research report on Monday, April 20th. They set an “outperform” rating and a $55.00 price objective for the company. Benchmark decreased their price objective on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd.

View Our Latest Stock Report on IonQ

IonQ Price Performance

IonQ stock opened at $58.12 on Friday. The firm’s 50 day simple moving average is $49.61 and its 200-day simple moving average is $44.54. The company has a market cap of $21.70 billion, a P/E ratio of -207.58 and a beta of 3.18. IonQ has a fifty-two week low of $25.89 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm had revenue of $64.67 million during the quarter, compared to analysts’ expectations of $49.75 million. During the same period last year, the business earned ($0.14) earnings per share. The business’s revenue was up 754.7% on a year-over-year basis. On average, analysts expect 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:

Insider Buying and Selling

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares in the company, valued at approximately $6,984,353.30. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On IonQ

A number of institutional investors have recently bought and sold shares of the business. Clear Street Group Inc. acquired a new stake in shares of IonQ during the 3rd quarter valued at about $61,488,000. Swedbank AB acquired a new stake in shares of IonQ during the 4th quarter valued at about $2,708,000. Jefferies Financial Group Inc. acquired a new stake in shares of IonQ during the 4th quarter valued at about $3,271,000. ProShare Advisors LLC lifted its holdings in shares of IonQ by 30.3% during the 4th quarter. ProShare Advisors LLC now owns 62,184 shares of the company’s stock valued at $2,790,000 after buying an additional 14,465 shares during the last quarter. Finally, Forsta AP Fonden acquired a new stake in shares of IonQ during the 4th quarter valued at about $5,488,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

About IonQ

(Get Free Report)

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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