What is DA Davidson's Forecast for IonQ FY2024 Earnings?

IonQ, Inc. (NYSE:IONQ - Free Report) - DA Davidson issued their FY2024 earnings per share estimates for shares of IonQ in a note issued to investors on Thursday, February 20th. DA Davidson analyst A. Platt anticipates that the company will earn ($0.35) per share for the year. DA Davidson has a "Strong-Buy" rating on the stock. The consensus estimate for IonQ's current full-year earnings is ($0.86) per share. DA Davidson also issued estimates for IonQ's Q4 2024 earnings at ($0.12) EPS and FY2025 earnings at ($0.49) EPS.

Several other analysts also recently weighed in on the company. Craig Hallum raised their target price on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 target price on shares of IonQ in a report on Thursday. Benchmark cut their price target on IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $44.80.

IonQ Stock Performance

Shares of IONQ traded down $5.03 during trading hours on Monday, hitting $24.91. The stock had a trading volume of 34,580,651 shares, compared to its average volume of 26,557,920. IonQ has a 12-month low of $6.22 and a 12-month high of $54.74. The firm has a market cap of $5.39 billion, a P/E ratio of -30.75 and a beta of 2.41. The company's fifty day simple moving average is $39.25 and its 200 day simple moving average is $24.63.

Institutional Investors Weigh In On IonQ

Large investors have recently bought and sold shares of the business. PDS Planning Inc boosted its holdings in IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock valued at $494,000 after acquiring an additional 300 shares during the period. Mariner LLC boosted its holdings in IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after acquiring an additional 350 shares during the period. Allworth Financial LP boosted its holdings in IonQ by 15.2% during the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company's stock valued at $116,000 after acquiring an additional 363 shares during the period. GAMMA Investing LLC boosted its holdings in IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock valued at $47,000 after acquiring an additional 480 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after buying an additional 501 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares of the company's stock, valued at $27,524,108.08. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

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.