IonQ, Inc. (NYSE:IONQ) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of IonQ, Inc. (NYSE:IONQ - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.33.

Several analysts have weighed in on IONQ shares. Needham & Company LLC dropped their price objective on shares of IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. DA Davidson reduced their price target on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Benchmark dropped their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday.

IonQ Price Performance

IonQ stock traded down $0.63 during trading hours on Thursday, hitting $31.21. The company had a trading volume of 19,030,876 shares, compared to its average volume of 16,467,953. The firm has a 50-day moving average of $24.91 and a 200 day moving average of $30.47. The firm has a market cap of $6.95 billion, a PE ratio of -38.53 and a beta of 2.46. IonQ has a one year low of $6.22 and a one year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. During the same period in the previous year, the company posted ($0.19) EPS. The firm's quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts expect that IonQ will post -0.86 earnings per share for the current year.

Insider Buying and Selling at IonQ

In related news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the sale, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company's stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IONQ. CenterBook Partners LP bought a new position in shares of IonQ during the first quarter valued at $1,422,000. Gagnon Securities LLC lifted its holdings in IonQ by 1,831.8% during the 1st quarter. Gagnon Securities LLC now owns 111,348 shares of the company's stock worth $2,457,000 after buying an additional 105,584 shares during the period. Deutsche Bank AG grew its position in shares of IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock valued at $16,797,000 after buying an additional 547,155 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of IonQ by 0.6% in the first quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company's stock valued at $474,460,000 after buying an additional 123,839 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in shares of IonQ during the first quarter worth about $284,000. Institutional investors own 41.42% of the company's stock.

About IonQ

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.