Research Analysts Issue Forecasts for IonQ FY2024 Earnings

IonQ, Inc. (NYSE:IONQ) – Investment analysts at DA Davidson issued their FY2024 earnings estimates for shares of IonQ in a research note issued to investors on Thursday, February 20th. DA Davidson analyst A. Platt anticipates that the company will post earnings per share of ($0.35) for the year. DA Davidson currently 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.

A number of other equities research analysts have also recently commented on IONQ. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. 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 note on Friday, December 20th. Benchmark lifted their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $33.00.

IonQ Price Performance

Shares of NYSE IONQ opened at $31.74 on Monday. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of -39.18 and a beta of 2.40. IonQ has a 12 month low of $6.22 and a 12 month high of $54.74. The firm’s 50 day simple moving average is $39.89 and its 200-day simple moving average is $24.27.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PDS Planning Inc lifted its stake in shares of IonQ by 2.6% in the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock valued at $494,000 after purchasing an additional 300 shares in the last quarter. Mariner LLC raised its position in shares of IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock valued at $2,276,000 after purchasing an additional 350 shares in the last quarter. Allworth Financial LP raised its position in shares of IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock valued at $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC raised its position in shares of IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Transactions at IonQ

In other news, CRO Rima Alameddine sold 21,337 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the transaction, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,223 shares of company stock worth $1,314,652. Insiders own 11.60% 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.