IonQ, Inc. (NYSE:IONQ - Get Free Report) has received an average rating of "Moderate Buy" from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $68.6250.
IONQ has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on IonQ from $42.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Northland Securities initiated coverage on IonQ in a research note on Monday, April 20th. They set an "outperform" rating and a $55.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of IonQ in a research note on Monday, May 4th. DA Davidson decreased their target price on IonQ from $55.00 to $35.00 and set a "neutral" rating for the company in a research note on Thursday, February 26th. Finally, Jefferies Financial Group set a $85.00 target price on IonQ in a research note on Thursday, May 7th.
Get Our Latest Analysis on IonQ
IonQ Stock Performance
Shares of IONQ opened at $58.12 on Friday. The firm has a market capitalization of $21.70 billion, a price-to-earnings ratio of -207.58 and a beta of 3.18. IonQ has a one year low of $25.89 and a one year high of $84.64. The stock's fifty day moving average is $49.61 and its 200-day moving average is $44.54.
IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The firm had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. During the same period in the prior year, the business earned ($0.14) EPS. The company's quarterly revenue was up 754.7% compared to the same quarter last year. Analysts forecast that IonQ will post -2.26 EPS for the current fiscal year.
IonQ News Summary
Here are the key news stories impacting IonQ this week:
Insiders Place Their Bets
In related news, insider Robert T. Cardillo sold 3,773 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the transaction, the insider owned 139,967 shares of the company's stock, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On IonQ
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. boosted its position in shares of IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock valued at $25,000 after purchasing an additional 340 shares during the period. Beaird Harris Wealth Management LLC increased its position in shares of IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after acquiring an additional 270 shares in the last quarter. Accent Capital Management LLC increased its position in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company's stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Kelleher Financial Advisors purchased a new position in shares of IonQ in the third quarter worth approximately $36,000. Finally, Fortitude Family Office LLC increased its position in shares of IonQ by 3,800.0% in the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock worth $28,000 after acquiring an additional 608 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.
IonQ Company Profile
(
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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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.
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