IonQ (NYSE:IONQ) Coverage Initiated at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald assumed coverage on shares of IonQ (NYSE:IONQ - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set an "overweight" rating and a $45.00 price target on the stock. Cantor Fitzgerald's target price indicates a potential upside of 0.36% from the stock's previous close.

IONQ has been the subject of a number of other reports. Morgan Stanley raised their price target on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of IonQ in a report on Wednesday, June 11th. DA Davidson decreased their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Benchmark reissued a "buy" rating and issued a $50.00 price objective on shares of IonQ in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, IonQ has a consensus rating of "Moderate Buy" and a consensus price target of $40.71.

IonQ Trading Up 11.8%

Shares of IonQ stock traded up $4.74 during trading on Wednesday, reaching $44.84. The stock had a trading volume of 24,523,540 shares, compared to its average volume of 19,434,294. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of -30.09 and a beta of 2.56. The stock has a fifty day moving average price of $36.75 and a two-hundred day moving average price of $33.92. IonQ has a 52 week low of $6.22 and a 52 week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million for the quarter, compared to analysts' expectations of $7.51 million. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, equities analysts forecast that IonQ will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 216,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.11, for a total value of $8,231,760.00. Following the sale, the chief financial officer owned 718,516 shares of the company's stock, valued at approximately $27,382,644.76. This trade represents a 23.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendy Thomas sold 16,696 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $39.43, for a total value of $658,323.28. Following the sale, the director owned 61,145 shares of the company's stock, valued at approximately $2,410,947.35. This represents a 21.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,972,201 shares of company stock worth $350,540,009 in the last three months. Company insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On IonQ

Hedge funds have recently added to or reduced their stakes in the business. PDS Planning Inc increased its holdings in IonQ by 2.6% in the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock valued at $494,000 after purchasing an additional 300 shares during the period. Mariner LLC grew its position in shares of IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after buying an additional 350 shares during the last quarter. Future Financial Wealth Managment LLC increased its stake in shares of IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after buying an additional 500 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of IonQ by 2.5% in the first quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock valued at $452,000 after buying an additional 500 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Company Profile

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.