IonQ (IONQ) Projected to Post Quarterly Earnings on Wednesday

IonQ (NYSE:IONQ) is expected to be announcing its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.23) per share and revenue of $10.28 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

IonQ Price Performance

NYSE:IONQ opened at $31.25 on Tuesday. The stock’s fifty day moving average price is $39.68 and its two-hundred day moving average price is $24.44. The company has a market cap of $6.76 billion, a P/E ratio of -38.58 and a beta of 2.40. IonQ has a 1 year low of $6.22 and a 1 year high of $54.74.

Insider Activity at IonQ

In other news, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of analyst reports. Craig Hallum lifted their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC lifted their price objective on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. 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. According to MarketBeat.com, IonQ currently has an average rating of “Buy” and an average target price of $33.00.

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.