B. Riley Issues Positive Forecast for IonQ (NYSE:IONQ) Stock Price

IonQ (NYSE:IONQ) had its price objective lifted by B. Riley from $75.00 to $100.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for IonQ’s FY2028 earnings at ($1.13) EPS.

Several other research analysts also recently issued reports on IONQ. Wolfe Research began coverage on shares of IonQ in a report on Wednesday, July 30th. They set a “peer perform” rating for the company. Sanford C. Bernstein began coverage on shares of IonQ in a report on Wednesday, July 30th. They set a “market perform” rating for the company. Needham & Company LLC upped their price target on shares of IonQ from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Benchmark upped their price target on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Cantor Fitzgerald upped their price target on shares of IonQ from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

IonQ Price Performance

Shares of IONQ opened at $71.90 on Monday. IonQ has a one year low of $7.50 and a one year high of $73.17. The company has a market cap of $21.34 billion, a P/E ratio of -35.77 and a beta of 2.54. The firm has a 50 day simple moving average of $44.92 and a two-hundred day simple moving average of $36.96.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.57). IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $17.23 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 81.6% on a year-over-year basis. On average, analysts expect that IonQ will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul T. Dacier sold 4,175 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the sale, the insider directly owned 114,454 shares in the company, valued at $5,081,757.60. This represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert T. Cardillo sold 8,773 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $50.52, for a total value of $443,211.96. Following the completion of the sale, the insider owned 37,436 shares of the company’s stock, valued at $1,891,266.72. The trade was a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,047 shares of company stock valued at $15,645,611 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of IonQ

A number of institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its position in IonQ by 28.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock valued at $40,000 after acquiring an additional 223 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after acquiring an additional 279 shares during the last quarter. Rothschild Investment LLC boosted its position in IonQ by 12.2% during the second quarter. Rothschild Investment LLC now owns 2,720 shares of the company’s stock valued at $117,000 after acquiring an additional 295 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in IonQ by 4.7% during the second quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock valued at $296,000 after acquiring an additional 306 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its position in IonQ by 0.8% during the second quarter. Prospera Financial Services Inc now owns 42,286 shares of the company’s stock valued at $1,817,000 after acquiring an additional 320 shares during the last quarter. Institutional investors 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.