IonQ (IONQ) Set to Announce Earnings on Wednesday

IonQ (NYSE:IONQ) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect IonQ to post earnings of ($0.26) per share for the quarter. IonQ has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The company had revenue of $6.11 million during the quarter, compared to analyst estimates of $5.70 million. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Price Performance

IONQ opened at $8.94 on Monday. The stock’s 50 day simple moving average is $9.18 and its 200 day simple moving average is $10.93. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -11.46 and a beta of 2.17. IonQ has a 1 year low of $5.38 and a 1 year high of $21.60.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group decreased their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of IonQ in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Buying and Selling

In other IonQ news, CTO Jungsang Kim sold 10,220 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the transaction, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Peter Hume Chapman sold 29,452 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $300,410.40. Following the sale, the chief executive officer now directly owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jungsang Kim sold 10,220 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the transaction, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock valued at $882,871 over the last quarter. 13.00% of the stock is owned by company 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.