IonQ, Inc. (NYSE:IONQ) Receives $69.45 Consensus PT from Brokerages

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $69.4545.

A number of equities analysts recently commented on IONQ shares. DA Davidson cut their price objective on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Jefferies Financial Group began coverage on shares of IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Benchmark dropped their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research note on Thursday, February 26th.

IonQ Trading Down 0.9%

NYSE IONQ opened at $35.69 on Wednesday. The firm has a market capitalization of $13.09 billion, a PE ratio of -14.33 and a beta of 2.61. The business’s 50-day moving average price is $41.25 and its two-hundred day moving average price is $50.13. IonQ has a 12 month low of $17.88 and a 12 month high of $84.64.

Insider Activity at IonQ

In other news, Director Kathryn K. Chou sold 20,000 shares of IonQ stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the director directly owned 60,839 shares of the company’s stock, valued at approximately $3,127,124.60. This trade represents a 24.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert T. Cardillo sold 5,165 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $39.44, for a total value of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. This represents a 4.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,781 shares of company stock worth $1,525,804 over the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On IonQ

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after purchasing an additional 5,420,037 shares during the period. Norges Bank acquired a new position in IonQ during the fourth quarter worth $199,753,000. Marex Group plc lifted its stake in shares of IonQ by 419.1% in the fourth quarter. Marex Group plc now owns 4,083,453 shares of the company’s stock valued at $183,225,000 after buying an additional 3,296,866 shares in the last quarter. State Street Corp lifted its stake in shares of IonQ by 42.3% in the fourth quarter. State Street Corp now owns 8,962,789 shares of the company’s stock valued at $402,160,000 after buying an additional 2,663,230 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of IonQ by 648.5% during the second quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock valued at $114,917,000 after buying an additional 2,317,058 shares during the last quarter. Institutional investors and hedge funds 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.