IonQ’s (IONQ) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of IonQ (NYSE:IONQ) in a research note released on Tuesday morning,Benzinga reports. They currently have a $100.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. Jefferies Financial Group initiated coverage on shares of IonQ in a report on Tuesday, December 16th. They set a “buy” rating and a $100.00 target price for the company. Cantor Fitzgerald increased their price target on shares of IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Wedbush started coverage on shares of IonQ in a research report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.91.

IonQ Trading Down 5.5%

NYSE:IONQ opened at $43.29 on Tuesday. The company has a market cap of $15.04 billion, a PE ratio of -8.09 and a beta of 2.63. The company has a 50 day simple moving average of $48.58 and a two-hundred day simple moving average of $51.38. IonQ has a 12 month low of $17.88 and a 12 month high of $84.64.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The firm had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business’s quarterly revenue was up 221.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.24) earnings per share. Research analysts forecast that IonQ will post -0.86 earnings per share for the current year.

Insider Activity

In other IonQ news, Director William J. Teuber, Jr. acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average price of $54.81 per share, with a total value of $109,620.00. Following the completion of the purchase, the director directly owned 6,413 shares in the company, valued at approximately $351,496.53. The trade was a 45.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total value of $4,689,000.00. Following the sale, the executive directly owned 432,616 shares in the company, valued at $20,285,364.24. This trade represents a 18.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,000 shares of company stock worth $5,992,000 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On IonQ

Several large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. increased its holdings in shares of IonQ by 28.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock worth $40,000 after buying an additional 223 shares during the last quarter. Hilltop National Bank grew its position in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after acquiring an additional 225 shares in the last quarter. International Assets Investment Management LLC increased its stake in IonQ by 4.3% during the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock worth $349,000 after acquiring an additional 235 shares during the last quarter. Lauer Wealth LLC raised its position in IonQ by 5.5% during the third quarter. Lauer Wealth LLC now owns 4,852 shares of the company’s stock valued at $298,000 after purchasing an additional 255 shares during the period. Finally, GAMMA Investing LLC raised its position in IonQ by 11.8% during the third quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock valued at $153,000 after purchasing an additional 261 shares during the period. Institutional investors own 41.42% 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. 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.