Bank of America initiated coverage on shares of IonQ (NYSE:IONQ – Free Report) in a report released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $60.00 price target on the stock.
A number of other research firms have also issued reports on IONQ. Wall Street Zen lowered IonQ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Morgan Stanley set a $49.00 price objective on IonQ in a research note on Thursday, August 6th. Weiss Ratings lowered IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 target price on shares of IonQ in a research note on Wednesday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of IonQ in a report on Wednesday, September 9th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.83.
Get Our Latest Stock Analysis on IONQ
IonQ Price Performance
IonQ (NYSE:IONQ – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.23. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The business had revenue of $80.05 million for the quarter, compared to analyst estimates of $66.47 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. The firm’s revenue was up 286.7% compared to the same quarter last year. Analysts anticipate that IonQ will post -2.11 earnings per share for the current year.
Insider Buying and Selling at IonQ
In related news, insider John Raymond sold 2,407 shares of the business’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 sale, the insider directly owned 77,741 shares in the company, valued at approximately $2,892,742.61. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.
Institutional Investors Weigh In On IonQ
Several hedge funds and other institutional investors have recently made changes to their positions in IONQ. Archer Investment Corp bought a new stake in shares of IonQ during the 2nd quarter worth $25,000. EFG International AG acquired a new position in IonQ during the second quarter worth about $30,000. N.E.W. Advisory Services LLC acquired a new position in IonQ during the second quarter worth about $42,000. EverSource Wealth Advisors LLC lifted its holdings in shares of IonQ by 216.5% in the first quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock worth $28,000 after acquiring an additional 656 shares during the last quarter. Finally, PeakShares LLC bought a new position in shares of IonQ in the first quarter worth about $29,000. 41.42% of the stock is owned by institutional investors and hedge funds.
More IonQ News
Here are the key news stories impacting IonQ this week:
- Positive Sentiment: Bank of America initiated IonQ at Buy with a $60 price target, implying meaningful upside from recent trading levels. The firm highlighted IonQ’s position as the largest publicly traded pure-play quantum company by revenue, its semiconductor-enabled approach to scaling qubits, and growing customer engagement. IonQ Jumps 4% on BoA Buy Rating
- Positive Sentiment: A multiyear agreement with South Korea’s SDT supports IonQ’s commercial narrative. The deal involves supplying a Superion 256 quantum computer and a silicon-vacancy quantum-memory module, with potential collaboration on a quantum-focused data center. Investors may view the arrangement as evidence that IonQ is expanding beyond research contracts toward repeatable hardware and networking sales. IonQ Signs Korean Hardware Deal
- Neutral Sentiment: Recent coverage has increased investor attention and compared IonQ’s upside with Microsoft and other quantum stocks. IonQ offers greater direct exposure to quantum adoption, while Microsoft provides stronger cash generation and a less speculative profile. IonQ vs. Microsoft
- Negative Sentiment: Valuation and profitability remain significant risks. IonQ continues to post large losses, has a highly elevated valuation relative to current sales, and faces execution risks related to acquisitions and scaling its technology. These concerns could limit further gains even after the bullish analyst call. Is IonQ Still a Buy Right Now?
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 eventually support applications in areas such as optimization, materials science, drug discovery, financial modeling and artificial intelligence.
The company offers access to its quantum processors through cloud platforms, including Amazon Web Services’ Amazon Braket, Microsoft Azure Quantum and Google Cloud.
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