Research Analysts Set Expectations for IonQ FY2024 Earnings

IonQ, Inc. (NYSE:IONQ) – Analysts at DA Davidson issued their FY2024 EPS estimates for shares of IonQ in a research note issued on Thursday, February 20th. DA Davidson analyst A. Platt expects that the company will earn ($0.35) per share for the year. DA Davidson currently has a “Strong-Buy” rating on the stock. The consensus estimate for IonQ’s current full-year earnings is ($0.86) per share. DA Davidson also issued estimates for IonQ’s Q4 2024 earnings at ($0.12) EPS and FY2025 earnings at ($0.49) EPS.

IONQ has been the subject of several other research reports. Benchmark raised their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum lifted their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group lifted their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IonQ presently has an average rating of “Buy” and a consensus target price of $33.00.

IonQ Stock Performance

IONQ opened at $29.83 on Monday. The firm’s 50-day simple moving average is $39.40 and its 200-day simple moving average is $24.59. IonQ has a twelve month low of $6.22 and a twelve month high of $54.74. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of -36.83 and a beta of 2.41.

Hedge Funds Weigh In On IonQ

Institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in IonQ during the fourth quarter worth $26,000. Smartleaf Asset Management LLC boosted its position in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after acquiring an additional 501 shares during the period. Measured Risk Portfolios Inc. bought a new stake in shares of IonQ in the fourth quarter valued at about $27,000. TD Waterhouse Canada Inc. bought a new stake in shares of IonQ in the fourth quarter valued at about $33,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of IonQ in the fourth quarter valued at about $34,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 over the last ninety days. Insiders own 11.60% of the company’s stock.

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.