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IonQ (NYSE:IONQ) Stock Price Up 0.1% - Still a Buy?

IonQ logo with Computer and Technology background

IonQ, Inc. (NYSE:IONQ - Get Free Report) traded up 0.1% during trading on Monday . The company traded as high as $39.38 and last traded at $39.53. 6,614,188 shares were traded during trading, a decline of 81% from the average session volume of 35,000,855 shares. The stock had previously closed at $39.49.

Analysts Set New Price Targets

Several equities research analysts recently commented on IONQ shares. Craig Hallum boosted their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. DA Davidson initiated coverage on shares of IonQ in a research report on Thursday, December 19th. They set a "buy" rating and a $50.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Needham & Company LLC raised their target price on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Benchmark upped their price target on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.00.

View Our Latest Analysis on IonQ

IonQ Price Performance

The stock's fifty day moving average is $39.02 and its 200-day moving average is $21.67. The stock has a market capitalization of $8.95 billion, a P/E ratio of -51.08 and a beta of 2.41.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period in the previous year, the business posted ($0.22) earnings per share. The firm's revenue was up 102.1% on a year-over-year basis. On average, research analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Activity at IonQ

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company's stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the sale, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

Institutional Trading of IonQ

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of IonQ by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company's stock worth $38,640,000 after purchasing an additional 199,360 shares during the period. State Street Corp increased its stake in IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company's stock valued at $37,240,000 after acquiring an additional 75,596 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in IonQ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company's stock valued at $68,740,000 after acquiring an additional 31,638 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of IonQ by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 905,545 shares of the company's stock worth $37,825,000 after purchasing an additional 198,129 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC bought a new stake in shares of IonQ during the fourth quarter valued at approximately $32,060,000. 41.42% of the stock is owned by institutional investors.

IonQ Company Profile

(Get Free Report)

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.

Further Reading

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