Research Analysts Issue Forecasts for IonQ FY2024 Earnings

IonQ, Inc. (NYSE:IONQ) – Stock analysts at DA Davidson issued their FY2024 earnings per share estimates for shares of IonQ in a research report issued to clients and investors on Thursday, February 20th. DA Davidson analyst A. Platt forecasts that the company will post earnings of ($0.35) per share for the year. DA Davidson has a “Strong-Buy” rating on the stock. The consensus estimate for IonQ’s current full-year earnings is ($0.86) per share. DA Davidson also issued estimates for IonQ’s Q4 2024 earnings at ($0.12) EPS and FY2025 earnings at ($0.49) EPS.

IONQ has been the subject of several other research reports. Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Needham & Company LLC upped their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Benchmark upped 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. Finally, The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $33.00.

IonQ Stock Down 6.0 %

Shares of IonQ stock opened at $31.74 on Monday. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of -39.18 and a beta of 2.40. The business has a fifty day simple moving average of $39.89 and a 200-day simple moving average of $24.27. IonQ has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

Insider Activity

In related news, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the sale, the chief financial officer now owns 926,114 shares of the company’s stock, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On IonQ

Hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new position in shares of IonQ in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after buying an additional 501 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in shares of IonQ in the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC bought a new position in shares of IonQ in the 4th quarter worth $34,000. 41.42% of the stock is owned by institutional investors and hedge funds.

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.