IonQ (IONQ) to Release Earnings on Wednesday

IonQ (NYSE:IONQ) is scheduled to be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect IonQ to post 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The firm had revenue of $6.11 million during the quarter, compared to analysts’ expectations 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 Price Performance

Shares of IONQ stock opened at $9.28 on Tuesday. IonQ has a 12 month low of $6.00 and a 12 month high of $21.60. The company’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $10.90. The firm has a market capitalization of $1.93 billion, a P/E ratio of -11.90 and a beta of 2.17.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group reduced their target price on IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of IonQ in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Transactions at IonQ

In other news, CFO Thomas G. Kramer sold 19,672 shares of IonQ stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $200,654.40. Following the transaction, the chief financial officer now directly owns 954,224 shares in the company, valued at $9,733,084.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Thomas G. Kramer sold 19,672 shares of IonQ stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $200,654.40. Following the sale, the chief financial officer now directly owns 954,224 shares in the company, valued at approximately $9,733,084.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jungsang Kim sold 10,220 shares of IonQ stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the transaction, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at $67,523,398.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,556 shares of company stock worth $882,871. 13.00% of the stock is owned by corporate insiders.

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.