IonQ (IONQ) Set to Announce Earnings on Wednesday

IonQ (NYSE:IONQ) is scheduled to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect IonQ to post earnings of ($0.23) per share for the quarter. IonQ has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $11.38 million for the quarter, compared to analyst estimates of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The business’s revenue for the quarter was up 106.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) EPS. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Stock Down 3.2 %

Shares of NYSE:IONQ opened at $14.37 on Tuesday. IonQ has a 52 week low of $6.22 and a 52 week high of $18.20. The company’s fifty day moving average is $10.14 and its 200 day moving average is $8.68. The stock has a market cap of $3.08 billion, a PE ratio of -18.19 and a beta of 1.88.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several analyst reports. Craig Hallum dropped their target price on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of IonQ in a report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price objective on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Benchmark decreased their price target on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 12th.

Insider Transactions at IonQ

In other IonQ news, CRO Rima Alameddine sold 9,875 shares of IonQ stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total value of $115,735.00. Following the sale, the executive now owns 638,908 shares of the company’s stock, valued at approximately $7,488,001.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 66,000 shares of company stock worth $972,331 over the last 90 days. 11.60% of the stock is currently owned by insiders.

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.