IonQ (IONQ) Set to Announce Earnings on Wednesday

IonQ (NYSE:IONQ) is scheduled to be announcing its earnings results 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

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

IonQ Trading Up 3.8 %

Shares of NYSE IONQ opened at $9.28 on Tuesday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -11.90 and a beta of 2.17. IonQ has a 12 month low of $6.00 and a 12 month high of $21.60. The company has a 50 day simple moving average of $9.14 and a two-hundred day simple moving average of $10.90.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IONQ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of IonQ in a research report on Thursday, February 29th. The Goldman Sachs Group reduced their price target on IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Three 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 Activity

In other IonQ news, CRO Rima Alameddine sold 27,212 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $277,562.40. Following the transaction, the executive now owns 697,647 shares in the company, valued at $7,115,999.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Peter Hume Chapman sold 29,452 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $300,410.40. Following the completion of the transaction, the chief executive officer now owns 451,233 shares in the company, valued at approximately $4,602,576.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 27,212 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $277,562.40. Following the completion of the transaction, the executive now directly owns 697,647 shares in the company, valued at $7,115,999.40. The disclosure for this sale can be found here. Insiders have sold 86,556 shares of company stock worth $882,871 in the last ninety days. Company 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.