DA Davidson Issues Positive Forecast for IonQ (NYSE:IONQ) Stock Price

IonQ (NYSE:IONQ) had its target price lifted by DA Davidson from $35.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential downside of 1.53% from the company’s previous close.

A number of other brokerages have also weighed in on IONQ. Rosenblatt Securities raised their price objective on IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein began coverage on IonQ in a research note on Wednesday, July 30th. They set a “market perform” rating for the company. Morgan Stanley lifted their price target on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Benchmark boosted their price target on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Finally, Wolfe Research started coverage on shares of IonQ in a report on Wednesday, July 30th. They issued a “peer perform” rating on the stock. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.00.

IonQ Trading Up 0.8%

Shares of IONQ stock traded up $0.45 during trading hours on Thursday, hitting $55.86. The company’s stock had a trading volume of 12,402,306 shares, compared to its average volume of 24,417,484. The business has a fifty day moving average of $61.00 and a 200-day moving average of $46.56. IonQ has a twelve month low of $16.29 and a twelve month high of $84.64. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of -27.86 and a beta of 2.59.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($3.34). The company had revenue of $39.87 million during the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.IonQ’s revenue was up 221.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.24) earnings per share. IonQ has set its FY 2025 guidance at EPS. On average, equities analysts expect that IonQ will post -0.86 EPS for the current fiscal year.

Insider Activity

In other IonQ news, insider Robert T. Cardillo sold 8,773 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total transaction of $443,211.96. Following the sale, the insider owned 37,436 shares in the company, valued at approximately $1,891,266.72. The trade was a 18.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 64,578 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the completion of the transaction, the chief financial officer directly owned 473,302 shares of the company’s stock, valued at $19,793,489.64. This represents a 12.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,622 shares of company stock valued at $4,931,896 in the last ninety days. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IONQ. Stone House Investment Management LLC lifted its stake in IonQ by 700.0% in 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 in the last quarter. Hilltop National Bank increased its holdings in shares of IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares during the period. Financial Consulate Inc. purchased a new stake in shares of IonQ in the third quarter worth approximately $29,000. UMB Bank n.a. acquired a new stake in shares of IonQ during the third quarter worth approximately $31,000. Finally, Archer Investment Corp grew its position in IonQ by 119.3% during the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

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.