IonQ, Inc. (NYSE:IONQ) Receives Consensus Rating of “Hold” from Brokerages

IonQ, Inc. (NYSE:IONQ) has earned an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $66.00.

Several equities analysts have commented on IONQ shares. Cantor Fitzgerald increased their target price on IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley upped their price objective on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. started coverage on shares of IonQ in a research report on Thursday. They set a “neutral” rating and a $47.00 target price on the stock. Benchmark boosted their target price 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, Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th.

Insiders Place Their Bets

In related news, CEO Masi Niccolo De sold 16,120 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the completion of the transaction, the chief executive officer directly owned 1,181,186 shares of the company’s stock, valued at $52,444,658.40. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the transaction, the executive directly owned 432,616 shares in the company, valued at $20,285,364.24. The trade was a 18.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 213,622 shares of company stock valued at $9,620,896 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of IonQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of IonQ by 180.9% in the 1st quarter. CWM LLC now owns 4,674 shares of the company’s stock worth $103,000 after purchasing an additional 3,010 shares during the period. Victory Capital Management Inc. raised its stake in IonQ by 237.6% during the first quarter. Victory Capital Management Inc. now owns 77,856 shares of the company’s stock worth $1,718,000 after buying an additional 54,797 shares during the last quarter. Choreo LLC lifted its holdings in IonQ by 13.6% in the first quarter. Choreo LLC now owns 12,256 shares of the company’s stock valued at $270,000 after buying an additional 1,464 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in IonQ during the first quarter valued at $2,053,000. Finally, Avantax Advisory Services Inc. boosted its position in IonQ by 10.3% during the first quarter. Avantax Advisory Services Inc. now owns 57,359 shares of the company’s stock valued at $1,266,000 after acquiring an additional 5,336 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

Shares of IonQ stock opened at $41.72 on Monday. The company’s 50 day moving average price is $62.37 and its two-hundred day moving average price is $48.52. The firm has a market capitalization of $14.49 billion, a P/E ratio of -7.80 and a beta of 2.59. IonQ has a fifty-two week low of $17.88 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.14). IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The company had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. During the same quarter last year, the company posted ($0.24) earnings per share. The firm’s quarterly revenue was up 221.5% on a year-over-year basis. IonQ has set its FY 2025 guidance at EPS. On average, analysts expect that IonQ will post -0.86 earnings per share for the current year.

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.