IonQ (NYSE:IONQ) Price Target Raised to $100.00 at Rosenblatt Securities

IonQ (NYSE:IONQ) had its price target boosted by Rosenblatt Securities from $70.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Sanford C. Bernstein began coverage on shares of IonQ in a report on Wednesday, July 30th. They issued a “market perform” rating on the stock. DA Davidson lowered IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Thursday, August 7th. Oppenheimer assumed coverage on IonQ in a research report on Wednesday, July 30th. They issued an “outperform” rating for the company. Cantor Fitzgerald upped their price target on IonQ from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Finally, Morgan Stanley lifted their price objective on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

IonQ Stock Performance

NYSE:IONQ opened at $57.53 on Thursday. The stock has a market cap of $19.99 billion, a price-to-earnings ratio of -10.75 and a beta of 2.59. IonQ has a one year low of $16.29 and a one year high of $84.64. The business’s 50-day simple moving average is $61.28 and its 200 day simple moving average is $46.64.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.14). IonQ had a negative return on equity of 188.98% and a negative net margin of 1,836.32%.The business had revenue of $39.87 million for the quarter, compared to analysts’ expectations of $26.99 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. IonQ’s revenue for the quarter was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. On average, equities research analysts predict that IonQ will post -0.86 EPS for the current year.

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 8,773 shares of IonQ stock in a transaction that occurred 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 sale, the insider owned 37,436 shares of the company’s stock, valued at approximately $1,891,266.72. The trade was a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 19,976 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $886,934.40. Following the transaction, the executive owned 532,616 shares of the company’s stock, valued at approximately $23,648,150.40. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,622 shares of company stock worth $4,931,896 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Stone House Investment Management LLC increased its holdings in shares of IonQ by 700.0% during the third quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares during the period. Hilltop National Bank increased its stake in IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 225 shares during the period. Financial Consulate Inc. bought a new stake in shares of IonQ during the 3rd quarter worth about $29,000. UMB Bank n.a. acquired a new stake in shares of IonQ in the 3rd quarter worth approximately $31,000. Finally, Archer Investment Corp boosted its holdings in shares of IonQ by 119.3% in the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock valued at $25,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds 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.