IonQ (NYSE:IONQ) Releases Quarterly Earnings Results, Misses Expectations By $0.70 EPS

IonQ (NYSE:IONQ) posted its earnings results on Wednesday. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.70), Zacks reports. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

IonQ Stock Performance

Shares of IONQ stock traded up $0.20 during mid-day trading on Wednesday, reaching $29.93. The company’s stock had a trading volume of 13,757,499 shares, compared to its average volume of 26,338,814. The firm’s 50-day moving average is $39.40 and its two-hundred day moving average is $24.59. The company has a market cap of $6.48 billion, a P/E ratio of -36.95 and a beta of 2.41. IonQ has a 1-year low of $6.22 and a 1-year high of $54.74.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum raised their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group upped their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $33.00.

Insider Activity

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the sale, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. Corporate insiders own 11.60% of the company’s stock.

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.