IonQ, Inc. (NYSE:IONQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IonQ, Inc. (NYSE:IONQ) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $68.6250.

Several analysts recently commented on the stock. Needham & Company LLC dropped their price target on shares of IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Benchmark decreased their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen downgraded shares of IonQ from a “sell” rating to a “strong sell” rating in a research note on Monday, May 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th.

Trending Headlines about IonQ

Here are the key news stories impacting IonQ this week:

• Negative Sentiment: Quantum-computing stocks including IonQ were hit hard Friday afternoon as the entire group fell, suggesting sector-wide risk-off sentiment is weighing on shares. Quantum Computing Stock Shock: IonQ, Rigetti, D-Wave, and Quantum Computing Inc. Fall 6% to 9%
• Negative Sentiment: Tech stocks are broadly falling today, adding extra pressure to IonQ as investors pull back from speculative growth names. Why IonQ Stock Is Plummeting Today
• Neutral Sentiment: Earlier coverage focused on IonQ’s strong Q1 results, including surging revenue, a growing backlog, and expanding enterprise adoption, which had supported bullish sentiment before today’s selloff. The Zacks Analyst Blog IonQ, D-Wave Quantum and Rigetti
• Neutral Sentiment: IonQ has also been highlighted as a leading quantum stock, but the shares remain highly sentiment-driven and volatile because the company is still not profitable. IonQ and 5 More Stocks to Play Quantum Fever

Insider Buying and Selling at IonQ

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of IonQ stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Teuber, Jr. purchased 3,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were bought at an average price of $38.38 per share, with a total value of $115,140.00. Following the completion of the transaction, the director owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. The trade was a 46.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 12,354 shares of company stock worth $504,428 over the last three months. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in shares of IonQ by 4.3% in the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock valued at $349,000 after purchasing an additional 235 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of IonQ by 24.4% in the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. Lauer Wealth LLC grew its holdings in IonQ by 5.3% during the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock worth $229,000 after acquiring an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 270 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

NYSE:IONQ opened at $51.97 on Monday. The firm has a market capitalization of $19.40 billion, a P/E ratio of -185.61 and a beta of 3.05. IonQ has a 1-year low of $25.89 and a 1-year high of $84.64. The company’s fifty day moving average price is $38.45 and its 200-day moving average price is $43.35.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The business had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm’s revenue was up 754.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) EPS. Equities analysts anticipate that IonQ will post -2.26 EPS for the current fiscal year.

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. 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.