IonQ, Inc. (NYSE:IONQ) Receives $68.25 Consensus PT from Analysts

IonQ, Inc. (NYSE:IONQ) has earned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $68.25.

Several research analysts recently commented on the company. Northland Securities initiated coverage on IonQ in a research report on Monday, April 20th. They issued an “outperform” rating and a $55.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a report on Monday, February 9th. JPMorgan Chase & Co. dropped their price objective on shares of IonQ from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Wall Street Zen raised shares of IonQ from a “sell” rating to a “hold” rating in a report on Saturday. Finally, DA Davidson decreased their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th.

Insiders Place Their Bets

In related news, Director William J. Teuber, Jr. acquired 3,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the acquisition, the director owned 9,413 shares of the company’s stock, valued at $361,270.94. This trade represents a 46.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert T. Cardillo sold 5,165 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 112,291 shares in the company, valued at approximately $4,428,757.04. This represents a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,581 shares of company stock worth $316,156 over the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Stone House Investment Management LLC grew its position in IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares during the last quarter. Ameriflex Group Inc. boosted its stake in IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares in the last quarter. Financial Consulate Inc. acquired a new position in IonQ in the third quarter worth $29,000. UMB Bank n.a. bought a new stake in shares of IonQ during the third quarter worth $31,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Trading Down 2.2%

Shares of NYSE:IONQ opened at $42.67 on Thursday. The firm has a market capitalization of $15.64 billion, a PE ratio of -17.14 and a beta of 2.80. IonQ has a 1-year low of $25.89 and a 1-year high of $84.64. The business’s 50 day moving average is $34.55 and its 200-day moving average is $45.10.

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. 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.