IonQ (NYSE:IONQ) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley Financial lowered IonQ’s price target from $100 to $75 while maintaining a “buy” rating, implying approximately 155% upside from the stock’s cited price of $29.37.
• Analyst sentiment remains broadly positive: IonQ has a “Moderate Buy” consensus rating and an average price target of $64.23 from 15 analysts.
• IonQ reported stronger-than-expected quarterly results, with revenue of $80.05 million—up 286.7% year over year—and an adjusted loss of $0.33 per share versus the expected $0.56 loss. Despite the growth, the company remains unprofitable, with a negative net margin of 553.27%.

IonQ (NYSE:IONQ - Get Free Report) had its price target lowered by research analysts at B. Riley Financial from $100.00 to $75.00 in a report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's target price would indicate a potential upside of 155.34% from the stock's current price.

Several other research analysts also recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $70.00 price target on shares of IonQ in a research report on Wednesday, September 9th. Mizuho decreased their price objective on IonQ from $61.00 to $52.00 and set an "outperform" rating for the company 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. Weiss Ratings lowered shares of IonQ from a "sell (d+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Finally, Bank of America started coverage on shares of IonQ in a research note on Monday, September 28th. They issued a "buy" rating and a $60.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.23.

IonQ Stock Performance

Shares of IonQ stock traded down $0.67 on Monday, reaching $29.37. 7,876,037 shares of the company were exchanged, compared to its average volume of 24,387,260. IonQ has a 1-year low of $25.89 and a 1-year high of $73.65. The company's 50-day moving average is $38.20 and its two-hundred day moving average is $42.09. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of -6.35 and a beta of 3.32.

IonQ (NYSE:IONQ - Get Free Report) last announced its 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. The firm had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. IonQ's revenue was up 286.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.70) EPS. As a group, sell-side analysts forecast that IonQ will post -2.96 earnings per share for the current year.

Insider Activity at IonQ

In related news, insider John Raymond sold 2,407 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $37.21, for a total value of $89,564.47. Following the sale, the insider owned 77,741 shares of the company's stock, valued at $2,892,742.61. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On IonQ

A number of institutional investors have recently bought and sold shares of IONQ. Bogart Wealth LLC grew its position in IonQ by 24.4% during the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company's stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. ABN Amro Investment Solutions grew its holdings in shares of IonQ by 2.5% in the 1st quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company's stock valued at $355,000 after acquiring an additional 295 shares in the last quarter. Versant Capital Management Inc increased its position in IonQ by 26.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,491 shares of the company's stock worth $79,000 after buying an additional 309 shares during the period. Root Financial Partners LLC boosted its stake in shares of IonQ by 22.9% during the first quarter. Root Financial Partners LLC now owns 1,725 shares of the company's stock valued at $50,000 after purchasing an additional 321 shares in the last quarter. Finally, Lake Street Private Wealth LLC lifted its stake in IonQ by 6.8% in the third quarter. Lake Street Private Wealth LLC now owns 5,446 shares of the company's stock valued at $239,000 after buying an additional 346 shares during the period. Hedge funds and other institutional investors own 41.42% of the company's stock.

About IonQ

IonQ, Inc NYSE: IONQ is a quantum computing company that develops full-stack quantum computing systems and related software. Its technology is based on trapped-ion quantum computing, which uses electrically charged atoms as qubits and is designed to support highly accurate quantum operations.

The company provides access to its quantum computers through cloud platforms and direct enterprise and research engagements. Its offerings include quantum computing hardware, cloud-based access, software tools, and professional services intended to help organizations explore applications in areas such as optimization, chemistry, materials science, artificial intelligence, and cybersecurity.

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