IonQ’s (IONQ) Buy Rating Reiterated at Rosenblatt Securities

IonQ (NYSE:IONQ)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $100.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 176.13% from the company’s previous close.

A number of other equities analysts have also weighed in on IONQ. Weiss Ratings lowered IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of IonQ in a report on Wednesday, September 9th. Morgan Stanley set a $49.00 target price on IonQ in a research note on Thursday, August 6th. Northland Securities upped their target price on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, Bank of America started coverage on IonQ in a report on Monday, September 28th. They set a “buy” rating and a $60.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

IonQ Price Performance

NYSE IONQ opened at $36.22 on Tuesday. The company has a market capitalization of $13.80 billion, a PE ratio of -7.77 and a beta of 3.36. The company has a fifty day moving average of $41.36 and a 200 day moving average of $44.78. IonQ has a 1 year low of $25.89 and a 1 year high of $84.64.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.23. The company had revenue of $80.05 million for the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The firm’s revenue was up 286.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.70) earnings per share. Research analysts expect that IonQ will post -2.11 earnings per share for the current year.

Insider Activity

In related news, insider John Raymond sold 2,407 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $37.21, for a total value of $89,564.47. Following the completion of the transaction, the insider directly owned 77,741 shares in the company, valued at $2,892,742.61. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of IonQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONQ. Bogart Wealth LLC raised its position in shares of IonQ by 24.4% in the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock worth $37,000 after acquiring an additional 250 shares during the period. ABN Amro Investment Solutions grew its position in shares of IonQ by 2.5% during the 1st quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company’s stock valued at $355,000 after acquiring an additional 295 shares during the period. Versant Capital Management Inc grew its position in shares of IonQ by 26.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,491 shares of the company’s stock valued at $79,000 after acquiring an additional 309 shares during the period. Root Financial Partners LLC grew its position in shares of IonQ by 22.9% during the 1st quarter. Root Financial Partners LLC now owns 1,725 shares of the company’s stock valued at $50,000 after acquiring an additional 321 shares during the period. Finally, POM Investment Strategies LLC increased its stake in shares of IonQ by 14.9% in the 2nd quarter. POM Investment Strategies LLC now owns 2,861 shares of the company’s stock valued at $152,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ reported a record 1 kHz entanglement rate between trapped-ion qubits and solid-state quantum memory. The advance could help the company scale quantum interconnects and build networked quantum data centers. IonQ’s Quantum Interconnect Breakthrough: What It Means for Scaling
• Positive Sentiment: A DARPA-focused analysis identified IonQ as a current leader in quantum-computing accuracy, supporting the company’s technology positioning as government and commercial interest in quantum computing grows. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now
• Positive Sentiment: IonQ expects its 256-qubit system to be available for sale in early 2027. Strong demand for the system could accelerate revenue growth, although the forecast remains speculative. Prediction: IonQ Stock Will Double by the End of 2027

IonQ Company Profile

IonQ, Inc is a quantum computing company that develops and commercializes quantum computers based on trapped-ion technology. Its systems are designed to perform specialized computations that may eventually support applications in areas such as optimization, materials science, drug discovery, financial modeling and artificial intelligence.

The company offers access to its quantum processors through cloud platforms, including Amazon Web Services’ Amazon Braket, Microsoft Azure Quantum and Google Cloud.