IonQ (NYSE:IONQ) Announces Earnings Results, Misses Estimates By $3.14 EPS

IonQ (NYSE:IONQ) released its quarterly earnings results on Wednesday. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14), Zacks reports. The company had revenue of $39.87 million during the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The firm’s revenue was up 221.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) earnings per share. IonQ updated its FY 2025 guidance to EPS.

IonQ Stock Up 2.9%

Shares of IONQ stock traded up $1.64 on Friday, reaching $59.07. The company’s stock had a trading volume of 32,627,778 shares, compared to its average volume of 31,936,684. IonQ has a 12-month low of $17.88 and a 12-month high of $84.64. The company has a market capitalization of $20.52 billion, a P/E ratio of -11.04 and a beta of 2.59. The stock’s 50 day simple moving average is $61.61 and its 200-day simple moving average is $46.88.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IONQ shares. Benchmark boosted their price target on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Sanford C. Bernstein assumed coverage on shares of IonQ in a research note on Wednesday, July 30th. They set a “market perform” rating on the stock. B. Riley upped their price target on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Cantor Fitzgerald boosted their price objective on shares of IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.11.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 19,976 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $886,934.40. Following the completion of the transaction, the executive owned 532,616 shares of the company’s stock, valued at approximately $23,648,150.40. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert T. Cardillo sold 8,773 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $50.52, for a total value of $443,211.96. Following the sale, the insider owned 37,436 shares in the company, valued at approximately $1,891,266.72. This represents a 18.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,622 shares of company stock worth $4,931,896 in the last ninety days. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after buying an additional 279 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in IonQ in the second quarter valued at approximately $47,000. Cerity Partners LLC purchased a new position in IonQ during the second quarter worth about $338,000. American Century Companies Inc. acquired a new position in IonQ in the 2nd quarter valued at about $352,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of IonQ in the second quarter valued at $402,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

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.