IonQ, Inc. (NYSE:IONQ) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IonQ, Inc. (NYSE:IONQ) have received a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $68.6250.

A number of equities research analysts have issued reports on IONQ shares. Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. DA Davidson dropped their price objective on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Benchmark cut their price objective on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, June 11th. Finally, Morgan Stanley set a $48.50 target price on shares of IonQ in a research report on Thursday, May 7th.

IonQ Trading Up 3.3%

Shares of IonQ stock opened at $56.48 on Friday. The business’s 50 day simple moving average is $52.46 and its 200-day simple moving average is $44.89. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of -201.71 and a beta of 3.18. IonQ has a twelve month low of $25.89 and a twelve month high of $84.64.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The company had revenue of $64.67 million for 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 company’s revenue for the quarter was up 754.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) EPS. Sell-side analysts predict that IonQ will post -2.26 earnings per share for the current year.

Insider Activity

In other news, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction that occurred on 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 directly owned 139,967 shares in the company, valued at approximately $6,984,353.30. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IONQ. Bogart Wealth LLC increased its holdings in shares of IonQ by 24.4% during the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares during the period. Lauer Wealth LLC raised its stake 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 purchasing an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in 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 purchasing an additional 270 shares during the period. EverSource Wealth Advisors LLC grew its position in IonQ by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after buying an additional 279 shares in the last quarter. Finally, ABN Amro Investment Solutions grew its position in IonQ by 2.5% in the 1st quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company’s stock valued at $355,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

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.