IonQ, Inc. (NYSE:IONQ) Receives $75.91 Average Price Target from Analysts

Shares of IonQ, Inc. (NYSE:IONQGet Free Report) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $75.9091.

IONQ has been the subject of a number of recent research reports. Wedbush started coverage on shares of IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price objective for the company. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Jefferies Financial Group began coverage on shares of IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 price target for the company. B. Riley boosted their price objective on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Rosenblatt Securities increased 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.

Check Out Our Latest Research Report on IONQ

IonQ Stock Performance

Shares of NYSE:IONQ opened at $50.80 on Tuesday. The firm has a fifty day moving average of $48.87 and a 200 day moving average of $51.27. IonQ has a 52-week low of $17.88 and a 52-week high of $84.64. The firm has a market capitalization of $17.65 billion, a PE ratio of -9.50 and a beta of 2.63.

IonQ (NYSE:IONQGet Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The firm had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.IonQ’s revenue for the quarter was up 221.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) earnings per share. On average, sell-side analysts forecast that IonQ will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CRO Rima Alameddine sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the transaction, the executive owned 432,616 shares in the company, valued at $20,285,364.24. This trade represents a 18.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Teuber, Jr. bought 2,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average cost of $54.81 per share, with a total value of $109,620.00. Following the purchase, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 125,000 shares of company stock valued at $5,992,000 over the last three months. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Stone House Investment Management LLC raised its holdings in shares of IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares in the last quarter. Ameriflex Group Inc. lifted its position in shares of IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares during the last quarter. Hilltop National Bank boosted its position in IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 225 shares during the period. Financial Consulate Inc. bought a new position in IonQ in the third quarter worth approximately $29,000. Finally, UMB Bank n.a. bought a new stake in shares of IonQ in the third quarter valued at about $31,000. 41.42% of the stock is currently owned by institutional investors.

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IonQ Company Profile

(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.

Further Reading

Analyst Recommendations for IonQ (NYSE:IONQ)

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