IonQ (NYSE:IONQ) Now Covered by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. assumed coverage on shares of IonQ (NYSE:IONQ) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $47.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 1.85% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Sanford C. Bernstein started coverage on shares of IonQ in a report on Wednesday, July 30th. They issued a “market perform” rating for the company. Rosenblatt Securities lifted their price objective on shares of IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Cantor Fitzgerald upped their target price on IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of IonQ in a report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, IonQ currently has a consensus rating of “Hold” and a consensus target price of $66.00.

IonQ Stock Down 2.5%

Shares of NYSE IONQ opened at $47.89 on Thursday. IonQ has a twelve month low of $17.88 and a twelve month high of $84.64. The firm has a market cap of $16.64 billion, a PE ratio of -8.95 and a beta of 2.59. The business has a fifty day simple moving average of $62.77 and a two-hundred day simple moving average of $48.22.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm had revenue of $39.87 million for the quarter, compared to analysts’ expectations of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The business’s quarterly revenue was up 221.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. On average, research analysts expect that IonQ will post -0.86 earnings per share for the current year.

Insider Transactions at IonQ

In related news, insider Robert T. Cardillo sold 8,773 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $50.52, for a total transaction of $443,211.96. Following the transaction, the insider directly owned 37,436 shares in the company, valued at $1,891,266.72. The trade was a 18.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Teuber, Jr. bought 2,000 shares of IonQ stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the completion of the transaction, the director directly owned 6,413 shares in the company, valued at $351,496.53. This represents a 45.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 113,622 shares of company stock worth $4,931,896. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of IonQ

Institutional investors have recently bought and sold shares of the stock. Stone House Investment Management LLC grew its position in IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after purchasing an additional 350 shares during the last quarter. Ameriflex Group Inc. raised its holdings in shares of IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after buying an additional 340 shares during the last quarter. Hilltop National Bank lifted its stake in shares of IonQ by 112.5% during the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after buying an additional 225 shares during the period. Financial Consulate Inc. purchased a new stake in shares of IonQ during the third quarter valued at $29,000. Finally, UMB Bank n.a. purchased a new stake in shares of IonQ during the third quarter valued at $31,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

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.