IonQ, Inc. (NYSE:IONQ) Receives $75.91 Consensus Target Price from Brokerages

Shares of IonQ, Inc. (NYSE:IONQGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $75.9091.

A number of equities research analysts have issued reports on IONQ shares. Rosenblatt Securities boosted their price target on IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. began coverage on IonQ in a report on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective on the stock. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Mizuho started coverage on shares of IonQ in a research report on Thursday, December 11th. They set an “outperform” rating and a $90.00 target price for the company. Finally, Wedbush started coverage on shares of IonQ in a research report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price target on the stock.

Check Out Our Latest Research Report on IONQ

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

IonQ Trading Down 6.4%

Shares of IonQ stock opened at $47.65 on Tuesday. The company has a 50-day moving average of $49.04 and a two-hundred day moving average of $51.14. IonQ has a 12-month low of $17.88 and a 12-month high of $84.64. The stock has a market cap of $16.55 billion, a PE ratio of -8.91 and a beta of 2.63.

IonQ (NYSE:IONQGet Free Report) last announced its earnings results on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The company had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. During the same quarter last year, the company posted ($0.24) EPS. IonQ’s quarterly revenue was up 221.5% compared to the same quarter last year. On average, sell-side analysts forecast that IonQ will post -0.86 EPS for the current fiscal year.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the sale, the executive directly owned 432,616 shares of the company’s stock, valued at approximately $20,285,364.24. This represents a 18.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Teuber, Jr. purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was acquired at an average cost of $54.81 per share, with a total value of $109,620.00. Following the completion of the acquisition, the director directly owned 6,413 shares in the company, valued at approximately $351,496.53. This trade represents a 45.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 125,000 shares of company stock valued at $5,992,000. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of IonQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock valued at $2,962,000 after purchasing an additional 14,898 shares during the last quarter. Amundi acquired a new stake in IonQ during the 1st quarter worth about $630,000. AQR Capital Management LLC lifted its stake in IonQ by 106.2% during the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after buying an additional 29,513 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after buying an additional 87,428 shares during the period. Finally, Focus Partners Wealth increased its position in shares of IonQ by 30.3% in the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after acquiring an additional 10,881 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Company Profile

(Get Free Report)

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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Analyst Recommendations for IonQ (NYSE:IONQ)

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