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

Key Points

• IonQ, Inc. has received a consensus rating of "Moderate Buy" from eleven research firms, with an average price target of $45.00.
• Insider trading activity includes significant share sales by CFO Thomas G. Kramer and CRO Rima Alameddine, indicating a 23.11% and 10.52% decrease in their respective holdings.
• IonQ reported a quarterly revenue increase of 81.6% year-over-year despite missing earnings estimates, resulting in an earnings per share of ($0.70).

Shares of IonQ, Inc. (NYSE:IONQ - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $45.00.

IONQ has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price for the company. Rosenblatt Securities initiated coverage on shares of IonQ in a research report on Tuesday, July 29th. They issued a "buy" rating and a $70.00 target price for the company. Oppenheimer initiated coverage on shares of IonQ in a research report on Wednesday, July 30th. They issued an "outperform" rating for the company. Wolfe Research initiated coverage on shares of IonQ in a research report on Wednesday, July 30th. They issued a "peer perform" rating for the company. Finally, Sanford C. Bernstein initiated coverage on shares of IonQ in a research report on Wednesday, July 30th. They issued a "market perform" rating for the company.

Insider Buying and Selling

In related news, CFO Thomas G. Kramer sold 216,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 718,516 shares of the company's stock, valued at $27,382,644.76. The trade was a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Rima Alameddine sold 65,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $38.57, for a total value of $2,507,050.00. Following the completion of the transaction, the executive directly owned 552,592 shares of the company's stock, valued at approximately $21,313,473.44. This trade represents a 10.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,209,626 shares of company stock worth $361,253,723 in the last ninety days. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its stake in shares of IonQ by 120.0% in the fourth quarter. Cetera Investment Advisers now owns 34,033 shares of the company's stock valued at $1,422,000 after buying an additional 18,566 shares during the period. GAMMA Investing LLC increased its stake in shares of IonQ by 4,683.1% in the first quarter. GAMMA Investing LLC now owns 54,336 shares of the company's stock valued at $1,199,000 after buying an additional 53,200 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of IonQ by 54.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company's stock valued at $203,000 after buying an additional 3,068 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of IonQ by 15.7% in the first quarter. Stratos Wealth Partners LTD. now owns 20,740 shares of the company's stock valued at $458,000 after buying an additional 2,814 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of IonQ by 6.6% in the first quarter. Rhumbline Advisers now owns 323,930 shares of the company's stock valued at $7,149,000 after buying an additional 20,127 shares during the period. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Stock Performance

Shares of IONQ stock opened at $40.23 on Friday. IonQ has a 52 week low of $6.54 and a 52 week high of $54.74. The company has a market capitalization of $10.53 billion, a P/E ratio of -20.01 and a beta of 2.54. The company's 50 day moving average price is $41.72 and its two-hundred day moving average price is $34.41.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.57). IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The firm had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. During the same period in the prior year, the business posted ($0.18) earnings per share. IonQ's quarterly revenue was up 81.6% compared to the same quarter last year. Analysts forecast that IonQ will post -0.86 earnings per share for the current year.

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.

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