IonQ (NYSE:IONQ) Trading 3.2% Higher After Analyst Upgrade

IonQ, Inc. (NYSE:IONQ) traded up 3.2% on Monday after Northland Securities raised their price target on the stock from $55.00 to $70.00. Northland Securities currently has an outperform rating on the stock. IonQ traded as high as $61.99 and last traded at $58.3630. Approximately 27,209,268 shares traded hands during trading, an increase of 2% from the average session volume of 26,570,074 shares. The stock had previously closed at $56.55.

Several other research analysts also recently weighed in on IONQ. Morgan Stanley set a $48.50 price target on shares of IonQ in a research report on Thursday, May 7th. Benchmark lowered their price objective on IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Needham & Company LLC reduced their target price on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings upgraded shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.88.

Insider Buying and Selling

In related news, insider Robert T. Cardillo sold 3,773 shares of IonQ stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by corporate insiders.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Northland Securities raised its price target on IonQ to $70 from $55 and kept an outperform rating, which supports the view that Wall Street still sees upside in the name. Benzinga
• Positive Sentiment: IonQ also got a lift from broader optimism around quantum computing after reports that new White House executive orders could help speed development of the sector while addressing security risks. WSJ article
• Positive Sentiment: Investor sentiment also improved after IonQ added a former Quantum Industry Canada CEO, reinforcing the company’s expansion and industry-talent narrative. BetaKit article
• Neutral Sentiment: Shareholders approved IonQ’s board, but the pay vote showed some pushback, suggesting governance concerns remain even as the company maintains investor support. TipRanks article
• Neutral Sentiment: Coverage highlighting IonQ’s recent product momentum and strong revenue growth is helping the long-term growth story, including its Clavis XG Multiplex launch and raised 2026 revenue outlook. Quiver Quantitative article
• Negative Sentiment: Several articles cautioned that quantum stocks, including IonQ, may face near-term pressure from rich valuations and higher interest rates, which could temper enthusiasm after the rally. Yahoo Finance article
• Negative Sentiment: Zacks echoed that cautious view, saying investors should be wary of macro pressure despite IonQ’s execution, which may limit further upside in the short term. Zacks article

Institutional Investors Weigh In On IonQ

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after acquiring an additional 14,898 shares during the last quarter. Amundi purchased a new position in IonQ during the first quarter valued at $630,000. AQR Capital Management LLC increased its holdings in IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after acquiring an additional 29,513 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in IonQ by 24.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after acquiring an additional 87,428 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in IonQ by 30.3% in the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,881 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Trading Up 3.2%

The firm’s 50 day simple moving average is $53.01 and its 200 day simple moving average is $44.96. The firm has a market cap of $21.79 billion, a PE ratio of -208.44 and a beta of 3.18.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The firm had revenue of $64.67 million for the quarter, compared to analysts’ expectations of $49.75 million. During the same quarter in the previous year, the business earned ($0.14) EPS. The company’s revenue for the quarter was up 754.7% on a year-over-year basis. As a group, equities research analysts predict that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.

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. 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.