Analysts Set IonQ, Inc. (NYSE:IONQ) Target Price at $68.63

Shares of IonQ, Inc. (NYSE:IONQ) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $68.6250.

Several equities analysts have issued reports on IONQ shares. DA Davidson dropped their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of IonQ in a report on Monday, May 4th. Finally, Morgan Stanley set a $48.50 price objective on IonQ in a report on Thursday, May 7th.

Insider Transactions at IonQ

In related news, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the sale, the insider owned 139,967 shares in the company, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On IonQ

Several large investors have recently made changes to their positions in the business. Bogart Wealth LLC increased its position in shares of IonQ by 24.4% during the 1st quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares during the last quarter. Lauer Wealth LLC increased its position in shares of IonQ by 5.3% during the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock valued at $229,000 after purchasing an additional 255 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after buying an additional 279 shares during the last quarter. Finally, ABN Amro Investment Solutions lifted its position in shares of IonQ by 2.5% during the 1st quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company’s stock valued at $355,000 after buying an additional 295 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Rosenblatt reaffirmed a Buy rating on IonQ with a $100 price target, reinforcing a bullish long-term view from analysts. Rosenblatt Reaffirms Buy on IonQ, Inc. (IONQ) with $100 Price Target
• Positive Sentiment: IonQ’s latest quarterly results showed record revenue of $64.7 million and very strong year-over-year growth, while management also raised full-year guidance and highlighted a large backlog of future contracted revenue. What IonQ’s revenue shock means for the entire sector
• Positive Sentiment: Sector enthusiasm remains high as investors continue to rotate into quantum-computing names, helped by optimism around commercialization, product catalysts, and long-term growth potential. D-Wave Leads Quantum Computing Stocks Higher as These Experts See More Gains Ahead
• Neutral Sentiment: IonQ is still drawing investor attention as a trending stock, keeping the name firmly on traders’ radar even as volatility remains elevated. Here is What to Know Beyond Why IonQ, Inc. (IONQ) is a Trending Stock
• Negative Sentiment: The quantum trade is reversing after Monday’s surge, with IonQ and other pure-play peers falling together as investors lock in gains and momentum fades. IonQ, Rigetti, D-Wave, and Quantum Computing Inc. All Fall 5% to 7% as the Quantum Rally Reverses

IonQ Stock Performance

Shares of IONQ opened at $56.19 on Friday. IonQ has a 52-week low of $25.89 and a 52-week high of $84.64. The business’s 50 day moving average price is $51.38 and its two-hundred day moving average price is $44.79. The firm has a market cap of $20.98 billion, a PE ratio of -200.69 and a beta of 3.18.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. During the same period last year, the firm posted ($0.14) earnings per share. IonQ’s quarterly revenue was up 754.7% compared to the same quarter last year. Research analysts predict that IonQ will post -2.26 EPS for the current fiscal year.

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.