The Goldman Sachs Group Lowers IonQ (NYSE:IONQ) Price Target to $10.00

IonQ (NYSE:IONQGet Rating) had its target price reduced by stock analysts at The Goldman Sachs Group from $19.00 to $10.00 in a research note issued on Thursday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 78.57% from the stock’s current price.

IONQ has been the subject of a number of other reports. Benchmark lowered their price objective on IonQ from $20.00 to $15.00 and set a “na” rating for the company in a research report on Tuesday. Craig Hallum lowered their price objective on IonQ from $26.00 to $12.00 and set a “na” rating for the company in a research report on Tuesday.

Shares of IonQ stock traded up $0.15 during trading on Thursday, reaching $5.60. The company’s stock had a trading volume of 98,250 shares, compared to its average volume of 7,763,800. The stock has a 50-day moving average price of $10.21 and a two-hundred day moving average price of $14.41. IonQ has a one year low of $4.16 and a one year high of $35.90.

IonQ (NYSE:IONQGet Rating) last released its quarterly earnings results on Monday, March 28th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $1.65 million during the quarter.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the business’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.10% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of IONQ. Steward Partners Investment Advisory LLC bought a new position in shares of IonQ during the 4th quarter valued at about $50,000. Wolverine Asset Management LLC bought a new position in shares of IonQ during the 4th quarter valued at about $52,000. Huntington National Bank bought a new position in shares of IonQ during the 4th quarter valued at about $78,000. IFP Advisors Inc bought a new position in shares of IonQ during the 4th quarter valued at about $87,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of IonQ during the 4th quarter valued at about $97,000. Institutional investors own 39.92% of the company’s stock.

IonQ Company Profile (Get Rating)

IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.

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