IonQ (NYSE:IONQ) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

IonQ (NYSE:IONQ) had its target price boosted by investment analysts at Rosenblatt Securities from $70.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 69.28% from the company’s current price.

Several other brokerages also recently issued reports on IONQ. Morgan Stanley raised their price objective on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Cantor Fitzgerald boosted their price objective on shares of IonQ from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Sanford C. Bernstein began coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a “market perform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Finally, DA Davidson lowered IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.11.

IonQ Stock Performance

Shares of NYSE:IONQ traded up $1.64 during midday trading on Thursday, hitting $59.07. The company’s stock had a trading volume of 32,627,778 shares, compared to its average volume of 31,936,684. The stock’s 50 day simple moving average is $61.61 and its 200 day simple moving average is $46.88. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of -11.04 and a beta of 2.59. IonQ has a fifty-two week low of $17.88 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The business had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. IonQ’s revenue for the quarter was up 221.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. As a group, analysts anticipate that IonQ will post -0.86 EPS for the current year.

Insider Transactions at IonQ

In related news, CFO Thomas G. Kramer sold 64,578 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the completion of the transaction, the chief financial officer owned 473,302 shares in the company, valued at $19,793,489.64. This trade represents a 12.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the sale, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. This represents a 3.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 113,622 shares of company stock valued at $4,931,896. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of IonQ by 116.7% in the 1st quarter. GAMMA Investing LLC now owns 2,462 shares of the company’s stock worth $54,000 after purchasing an additional 1,326 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in IonQ by 54.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company’s stock valued at $203,000 after buying an additional 3,068 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in IonQ during the first quarter worth about $628,000. Concurrent Investment Advisors LLC grew its stake in IonQ by 13.9% during the first quarter. Concurrent Investment Advisors LLC now owns 10,805 shares of the company’s stock worth $238,000 after buying an additional 1,319 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of IonQ by 15.7% during the first quarter. Stratos Wealth Partners LTD. now owns 20,740 shares of the company’s stock worth $458,000 after buying an additional 2,814 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

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.