IonQ, Inc. (NYSE:IONQ) Receives $69.45 Consensus Target Price from Brokerages

IonQ, Inc. (NYSE:IONQ) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $69.4545.

IONQ has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of IonQ in a research note on Thursday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of IonQ from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. DA Davidson lowered their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a report on Monday, February 9th.

Insider Buying and Selling

In other IonQ news, Director William J. Teuber, Jr. purchased 3,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the director owned 60,839 shares in the company, valued at $3,127,124.60. The trade was a 24.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,781 shares of company stock worth $1,525,804 in the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Trading of IonQ

Large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its stake in IonQ by 1,209.5% during the 4th quarter. Hsbc Holdings PLC now owns 165,524 shares of the company’s stock valued at $7,488,000 after purchasing an additional 152,884 shares in the last quarter. Pure Financial Advisors LLC lifted its stake in shares of IonQ by 6.8% during the fourth quarter. Pure Financial Advisors LLC now owns 15,664 shares of the company’s stock worth $703,000 after buying an additional 992 shares during the period. SHP Wealth Management acquired a new stake in shares of IonQ during the fourth quarter worth $152,000. CFO Capital Management LLC purchased a new stake in shares of IonQ during the fourth quarter valued at $1,064,000. Finally, Tempo Wealth LLC purchased a new stake in shares of IonQ during the fourth quarter valued at $330,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

IONQ opened at $35.69 on Wednesday. The firm has a market capitalization of $13.09 billion, a PE ratio of -14.33 and a beta of 2.61. The business’s 50-day moving average is $41.25 and its two-hundred day moving average is $50.32. IonQ has a 1 year low of $17.88 and a 1 year high of $84.64.

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.