IonQ (NYSE:IONQ) Trading 3.5% Higher on Analyst Upgrade

IonQ, Inc. (NYSE:IONQ)’s stock price traded up 3.5% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $42.00 to $50.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. IonQ traded as high as $49.44 and last traded at $49.3580. 25,609,562 shares traded hands during trading, an increase of 3% from the average session volume of 24,933,494 shares. The stock had previously closed at $47.68.

Several other analysts have also recently weighed in on the company. DA Davidson reduced their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Wall Street Zen downgraded shares of IonQ from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Needham & Company LLC dropped their price target on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Benchmark reduced their price objective on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.63.

Insider Transactions at IonQ

In other IonQ news, Director William J. Teuber, Jr. bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $38.38 per share, with a total value of $115,140.00. Following the completion of the purchase, the director directly owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This trade represents a 46.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert T. Cardillo sold 5,165 shares of IonQ stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $39.44, for a total transaction of $203,707.60. Following the completion of the sale, the insider owned 112,291 shares of the company’s stock, valued at $4,428,757.04. This represents a 4.40% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,581 shares of company stock worth $316,156. Company insiders own 5.20% of the company’s stock.

More IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ posted record Q1 revenue of $64.7 million, up 755% year over year, and raised its full-year and second-quarter revenue guidance, signaling strong demand for its quantum computing platform. Quantum computing firm IonQ raises annual revenue forecast
• Positive Sentiment: SkyWater Technology stockholders approved the merger agreement with IonQ, moving IonQ closer to closing a strategic acquisition that could expand its capabilities in U.S.-based semiconductor manufacturing. SkyWater Technology Stockholders Approve Merger Agreement with IonQ
• Positive Sentiment: Analysts have remained generally constructive after earnings, with JPMorgan lifting its price target to $50 while keeping a neutral rating, reinforcing the view that IonQ’s growth story still has room to run. Morgan Stanley resets IonQ stock price target after earnings
• Neutral Sentiment: CEO Niccolo de Masi said quantum computing is coming sooner than many expect, keeping investor enthusiasm high around the long-term market opportunity. IonQ CEO Niccolo de Masi: Quantum is coming sooner than people think
• Neutral Sentiment: Options activity spiked, with unusually heavy call buying, suggesting traders are positioning for continued volatility and possibly more upside.
• Negative Sentiment: Despite the huge revenue beat and raised forecast, IonQ missed on adjusted earnings and posted a wider loss, which appears to be the main reason the stock sold off after the report. IONQ Stock Falls on Q1 Earnings Miss, Revenues Beat, ’26 Sales View Up
• Negative Sentiment: Several market write-ups highlighted that investors are still worried about valuation and whether the company can turn rapid sales growth into durable profits. IonQ Just Posted a Breakout Quarter—But 1 Problem Remains

Institutional Trading of IonQ

Several institutional investors and hedge funds have recently modified their holdings of IONQ. Royal Bank of Canada lifted its position in shares of IonQ by 12.5% during the 1st quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after buying an additional 14,898 shares in the last quarter. Amundi bought a new position in IonQ during the first quarter worth about $630,000. AQR Capital Management LLC grew its stake in IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after buying an additional 29,513 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of IonQ by 24.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after purchasing an additional 87,428 shares during the period. Finally, Focus Partners Wealth grew its stake in IonQ by 30.3% during the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock valued at $1,032,000 after acquiring an additional 10,881 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Performance

The stock has a market capitalization of $18.10 billion, a PE ratio of -176.28 and a beta of 3.05. The business’s 50-day moving average price is $36.42 and its 200 day moving average price is $43.57.

IonQ Company Profile

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.