IonQ (IONQ) Scheduled to Post Quarterly Earnings on Wednesday

IonQ (NYSE:IONQ) is scheduled to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect IonQ to post earnings of ($0.26) per share for the quarter. IonQ has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The firm had revenue of $6.11 million during the quarter, compared to analyst estimates of $5.70 million. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Price Performance

Shares of IONQ stock opened at $8.94 on Monday. The stock’s 50-day moving average is $9.18 and its 200 day moving average is $10.93. IonQ has a 1-year low of $5.38 and a 1-year high of $21.60. The company has a market cap of $1.86 billion, a P/E ratio of -11.46 and a beta of 2.17.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 27,212 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $277,562.40. Following the transaction, the executive now owns 697,647 shares in the company, valued at approximately $7,115,999.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other IonQ news, CRO Rima Alameddine sold 27,212 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $277,562.40. Following the sale, the executive now owns 697,647 shares in the company, valued at approximately $7,115,999.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jungsang Kim sold 10,220 shares of the stock in a transaction dated 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 directly owns 6,619,941 shares in the company, valued at $67,523,398.20. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock worth $882,871 in the last three months. Corporate insiders own 13.00% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of IonQ in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.50.

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.