Wedbush Reaffirms Outperform Rating for IonQ (NYSE:IONQ)

Key Points

• Wedbush reiterated an “Outperform” rating on IonQ with a $75 price target, implying approximately 85.6% upside from the stock’s cited price of $40.42.
• Analyst sentiment remains positive overall: IonQ has a “Moderate Buy” consensus rating and a $64.18 average target, though ratings range from “Strong Sell” to targets as high as $100.
• IonQ exceeded quarterly expectations, reporting a $0.33 adjusted loss per share versus the $0.56 expected loss and $80.05 million in revenue, up 286.7% year over year; however, the company remains deeply unprofitable.

IonQ (NYSE:IONQ - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Wedbush in a note issued to investors on Tuesday, Benzinga reports. They currently have a $75.00 price target on the stock. Wedbush's price target would indicate a potential upside of 85.55% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Weiss Ratings cut IonQ from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 target price on shares of IonQ in a report on Wednesday, September 9th. Wall Street Zen lowered shares of IonQ from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $65.00 target price on shares of IonQ in a research note on Wednesday, September 9th. Finally, B. Riley Financial reiterated a "buy" rating on shares of IonQ in a report on Wednesday, September 9th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, IonQ presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.18.

IonQ Trading Up 3.3%

IonQ stock opened at $40.42 on Tuesday. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of -8.67 and a beta of 3.30. The firm's fifty day moving average price is $39.23 and its two-hundred day moving average price is $43.88. IonQ has a 1-year low of $25.89 and a 1-year high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.23. The company had revenue of $80.05 million for 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%. The firm's revenue was up 286.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.70) EPS. On average, research analysts forecast that IonQ will post -2.11 EPS for the current year.

Insider Buying and Selling

In other IonQ news, insider John Raymond sold 2,407 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $37.21, for a total transaction of $89,564.47. Following the sale, the insider owned 77,741 shares in the company, valued at $2,892,742.61. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IonQ

A number of large investors have recently bought and sold shares of IONQ. BlackRock Inc. bought a new position in shares of IonQ in the second quarter worth approximately $1,112,945,000. Bank of America Corp DE bought a new position in shares of IonQ during the second quarter worth $344,757,000. Norges Bank bought a new position in shares of IonQ during the 4th quarter valued at about $199,753,000. Clear Street Group Inc. lifted its position in shares of IonQ by 219.6% in the fourth quarter. Clear Street Group Inc. now owns 3,195,818 shares of the company's stock worth $143,396,000 after buying an additional 2,196,017 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in IonQ during the second quarter valued at approximately $113,863,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

More IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: South Korean expansion: IonQ entered a multi-year partnership with SDT, Inc. to supply a Superion 256 quantum computer and silicon-vacancy quantum memory module. SDT plans to establish a Gumi facility for quantum assembly, packaging, and integration, with the companies targeting a hybrid quantum-classical data center and broader quantum networking deployment across the Asia-Pacific region. The agreement strengthens IonQ’s commercial footprint, although financial terms were not disclosed. IonQ and SDT Partnership
• Positive Sentiment: Commercial validation with Synopsys: IonQ and Synopsys reported engineering simulations running up to 14.6% faster, offering evidence that IonQ’s quantum technology may improve industrial workflows and support future enterprise demand. IonQ and Synopsys Simulation Results
• Neutral Sentiment: Public-sector focus: IonQ hired former IBM executive Charles Robinson as its first public-sector quantum security chief, signaling an effort to build government and security-related business. The appointment could support long-term growth, but it does not immediately change revenue or earnings. IonQ Public-Sector Security Appointment
• Negative Sentiment: Insider selling concerns: A report says insiders across IonQ and several other quantum-computing companies have been significant net sellers after substantial share-price gains. Such selling can raise concerns about valuation and management confidence, even though it does not necessarily indicate weakening operations. Quantum Computing Insider Selling Report
• Negative Sentiment: Profitability and execution risks: IonQ’s rapid revenue growth has been accompanied by widening losses, increased spending, and full-year sales guidance that relies heavily on a recent acquisition. These factors keep valuation and future funding needs as key risks for investors. IonQ Investment Risks

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 be difficult for classical computers, with potential applications in areas such as optimization, materials science, drug discovery, artificial intelligence and financial modeling.

The company provides access to its quantum processors through cloud platforms, including Amazon Web Services' Amazon Braket, Microsoft Azure Quantum and Google Cloud.

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