IonQ, Inc. (NYSE:IONQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

IonQ, Inc. (NYSE:IONQ) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.80.

Several equities research analysts have commented on IONQ shares. Craig Hallum boosted their target price on shares of IonQ from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Morgan Stanley boosted their price objective on shares of IonQ from $7.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, August 14th. The Goldman Sachs Group increased their target price on shares of IonQ from $9.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Westpark Capital cut IonQ from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Benchmark raised their price objective on IonQ from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 14th.

IonQ Price Performance

IonQ stock opened at $17.51 on Tuesday. The stock’s 50 day moving average price is $15.18 and its 200 day moving average price is $9.86. IonQ has a 1-year low of $3.04 and a 1-year high of $20.14. The company has a market cap of $3.55 billion, a PE ratio of -30.72 and a beta of 2.08.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IONQ. Quantbot Technologies LP acquired a new position in shares of IonQ in the second quarter worth $28,000. Commonwealth Equity Services LLC acquired a new position in IonQ in the 4th quarter valued at about $34,000. Huntington National Bank lifted its holdings in IonQ by 250,000.0% in the 2nd quarter. Huntington National Bank now owns 2,501 shares of the company’s stock valued at $34,000 after purchasing an additional 2,500 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of IonQ during the 4th quarter worth about $37,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of IonQ during the second quarter worth about $38,000. 38.88% of the stock is currently owned by institutional investors and hedge funds.

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.