IonQ (IONQ) Scheduled to Post Quarterly Earnings on Wednesday

IonQ (NYSE:IONQ) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.26) per share for the quarter. IonQ has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $6.11 million during the quarter, compared to the consensus estimate of $5.70 million. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Price Performance

IONQ opened at $8.55 on Wednesday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -10.96 and a beta of 2.14. The firm has a 50 day simple moving average of $9.29 and a 200 day simple moving average of $11.04. IonQ has a fifty-two week low of $5.29 and a fifty-two week high of $21.60.

Analyst Upgrades and Downgrades

Several brokerages have commented on IONQ. The Goldman Sachs Group lowered their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of IonQ in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, IonQ has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Transactions at IonQ

In related news, CTO Jungsang Kim sold 10,220 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the transaction, the chief technology officer now owns 6,619,941 shares in the company, valued at $67,523,398.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Peter Hume Chapman sold 29,452 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $300,410.40. Following the transaction, the chief executive officer now directly owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jungsang Kim sold 10,220 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the transaction, the chief technology officer now directly owns 6,619,941 shares in the company, valued at $67,523,398.20. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock valued at $882,871 over the last quarter. Corporate insiders own 13.00% of the company’s stock.

IonQ Company Profile

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.