IonQ, Inc. (NYSE:IONQ) Stock Has Average Target Price of $67.17

IonQ, Inc. (NYSE:IONQ) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $64.18.

IONQ has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $75.00 target price on shares of IonQ in a research report on Tuesday, September 22nd. Morgan Stanley set a $49.00 price target on IonQ in a research note on Thursday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of IonQ in a report on Wednesday, September 9th. Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of IonQ in a report on Thursday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of IonQ in a research note on Wednesday, September 9th.

IonQ Trading Up 1.3%

IONQ stock opened at $45.57 on Friday. The firm has a 50 day simple moving average of $39.77 and a 200-day simple moving average of $44.02. The company has a market capitalization of $17.36 billion, a P/E ratio of -9.78 and a beta of 3.30. IonQ has a twelve month low of $25.89 and a twelve month high of $84.64.

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

Insider Buying and Selling at IonQ

In other news, insider John Raymond sold 2,407 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $37.21, for a total value of $89,564.47. Following the completion of the sale, the insider directly owned 77,741 shares in the company, valued at approximately $2,892,742.61. The trade was a 3.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On IonQ

A number of hedge funds have recently added to or reduced their stakes in IONQ. Swedbank AB bought a new stake in shares of IonQ during the 4th quarter valued at about $2,708,000. Jefferies Financial Group Inc. acquired a new stake in IonQ during the fourth quarter worth about $3,271,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in IonQ by 96.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 125,556 shares of the company’s stock worth $3,620,000 after acquiring an additional 61,656 shares during the last quarter. ProShare Advisors LLC lifted its holdings in IonQ by 30.3% in the fourth quarter. ProShare Advisors LLC now owns 62,184 shares of the company’s stock worth $2,790,000 after acquiring an additional 14,465 shares during the last quarter. Finally, Simplicity Wealth LLC acquired a new position in IonQ in the second quarter valued at approximately $981,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ’s demonstration of real-time quantum error correction is being viewed as an important step toward fault-tolerant and commercially useful quantum computing. The technology could help address one of the industry’s biggest barriers to adoption. IonQ Removes Major Quantum Barrier
• Positive Sentiment: NVIDIA is working with IonQ to integrate quantum systems with advanced AI infrastructure, adding credibility and visibility to IonQ’s commercialization efforts. The partnership has helped fuel investor interest in the stock. Why IonQ Stock Is Up Today
• Positive Sentiment: IonQ secured a contract to deliver its Superion 256-qubit trapped-ion quantum computer to Florida International University. The deployment would be the first sale of the platform in Florida and expands IonQ’s on-premises academic customer base. IonQ’s Superion 256 Platform Selected by Florida International University
• Neutral Sentiment: Analyst and investor commentary is split: IonQ’s technical progress strengthens its long-term opportunity, but meaningful revenue from broad commercial adoption may take time. The company’s investment case therefore depends heavily on execution and progress toward commercialization. Can IonQ’s AI Breakthrough Drive Revenue?
• Negative Sentiment: Quantum-computing shares have begun giving back part of their sharp rally, as traders take profits and question whether current valuations adequately reflect near-term fundamentals. IonQ remains unprofitable, making the stock particularly sensitive to changes in sentiment and interest rates. Quantum Computing Stocks Tumble After Stunning Rally
• Negative Sentiment: Critics argue that IonQ’s substantial losses and speculative valuation could outweigh the near-term impact of its breakthroughs. The company’s recent revenue growth is encouraging, but investors still need evidence that technical advances will translate into recurring, profitable sales. IonQ: Nvidia QPU Catalyst Isn’t Enough

About IonQ

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 be difficult for classical computers, with potential applications in areas such as optimization, materials science, drug discovery, artificial intelligence and financial modeling.

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