IonQ (NYSE:IONQ) Stock Price Up 9.5% - Time to Buy?

Key Points

• IonQ shares jumped 9.5% on Monday, closing at $53.99 after trading as high as $54.20 on volume below its average daily level.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $69.88, though some firms have mixed views and JPMorgan recently lifted its target to $50 with a neutral rating.
• Recent earnings showed strong revenue growth but continued losses: quarterly revenue rose 754.7% year over year to $64.67 million, yet EPS came in at -$0.34, missing estimates and underscoring ongoing profitability challenges.

IonQ, Inc. (NYSE:IONQ - Get Free Report) shares traded up 9.5% on Monday . The company traded as high as $54.20 and last traded at $53.9890. 22,772,921 shares traded hands during trading, a decline of 15% from the average daily volume of 26,836,779 shares. The stock had previously closed at $49.31.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of IonQ from $42.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Wall Street Zen raised IonQ from a "strong sell" rating to a "sell" rating in a report on Saturday, June 13th. Rosenblatt Securities restated a "buy" rating and issued a $100.00 price target on shares of IonQ in a research report on Thursday, June 11th. Northland Securities boosted their price target on IonQ from $55.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $60.00 price objective on shares of IonQ in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.88.

IonQ Stock Performance

The firm has a market cap of $20.15 billion, a P/E ratio of -192.82 and a beta of 3.18. The company's 50 day moving average is $55.08 and its 200 day moving average is $45.04.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business's quarterly revenue was up 754.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. On average, equities research analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current year.

Insider Activity

In related news, insider John W. Raymond sold 3,815 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $209,863.15. Following the transaction, the insider owned 80,148 shares in the company, valued at $4,408,941.48. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn K. Chou sold 2,757 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the transaction, the director owned 62,608 shares in the company, valued at $3,444,692.16. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,102 shares of company stock worth $701,489 over the last ninety days. Corporate insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its position in shares of IonQ by 24.4% during the 1st quarter. Bogart Wealth LLC now owns 1,273 shares of the company's stock worth $37,000 after buying an additional 250 shares in the last quarter. Lauer Wealth LLC increased its position in shares of IonQ by 5.3% during the fourth quarter. Lauer Wealth LLC now owns 5,107 shares of the company's stock valued at $229,000 after acquiring an additional 255 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in IonQ by 117.4% during 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 during the period. EverSource Wealth Advisors LLC lifted its holdings in IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock worth $36,000 after acquiring an additional 279 shares during the period. Finally, ABN Amro Investment Solutions boosted its position in IonQ by 2.5% in the first quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company's stock worth $355,000 after purchasing an additional 295 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

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. 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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