IonQ, Inc. (NYSE:IONQ) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of IonQ in a research report on Thursday, February 29th. The Goldman Sachs Group cut their price objective on IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, February 29th.

Insider Activity at IonQ

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

Hedge Funds Weigh In On IonQ

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in IonQ by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 17,906,731 shares of the company’s stock valued at $221,864,000 after acquiring an additional 193,924 shares in the last quarter. BlackRock Inc. boosted its stake in shares of IonQ by 30.2% during the second quarter. BlackRock Inc. now owns 11,291,831 shares of the company’s stock worth $152,778,000 after buying an additional 2,619,268 shares during the period. Softbank Group CORP. acquired a new stake in shares of IonQ during the first quarter worth about $37,753,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of IonQ during the fourth quarter worth about $67,421,000. Finally, State Street Corp boosted its stake in shares of IonQ by 32.1% during the second quarter. State Street Corp now owns 3,207,505 shares of the company’s stock worth $43,398,000 after buying an additional 780,250 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Stock Up 1.2 %

Shares of NYSE IONQ opened at $7.37 on Friday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -9.45 and a beta of 2.14. IonQ has a 52-week low of $5.29 and a 52-week high of $21.60. The business’s 50 day moving average is $9.74 and its two-hundred day moving average is $11.47.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $6.11 million for the quarter, compared to analyst estimates of $5.70 million. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. Analysts anticipate that IonQ will post -1.24 EPS for the current fiscal 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.