IonQ, Inc. (NYSE:IONQ) Given Consensus Rating of “Moderate Buy” by Brokerages

IonQ, Inc. (NYSE:IONQ) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $16.50.

A number of research firms recently weighed in on IONQ. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of IonQ in a research report on Thursday, May 16th. The Goldman Sachs Group lowered their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, February 29th.

IonQ Trading Up 1.1 %

Shares of IONQ opened at $7.96 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of -9.58 and a beta of 2.11. The company’s 50 day simple moving average is $8.35 and its 200-day simple moving average is $10.32. IonQ has a 12-month low of $6.98 and a 12-month high of $21.60.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $7.58 million for the quarter, compared to analyst estimates of $7.08 million. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The company’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. As a group, equities research analysts forecast that IonQ will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On IonQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Verity Asset Management Inc. lifted its holdings in IonQ by 41.6% in the first quarter. Verity Asset Management Inc. now owns 26,863 shares of the company’s stock valued at $268,000 after acquiring an additional 7,888 shares during the period. Virtu Financial LLC lifted its holdings in IonQ by 22.5% in the first quarter. Virtu Financial LLC now owns 54,755 shares of the company’s stock valued at $547,000 after acquiring an additional 10,074 shares during the period. California State Teachers Retirement System raised its stake in shares of IonQ by 6.9% during the 1st quarter. California State Teachers Retirement System now owns 172,959 shares of the company’s stock worth $1,728,000 after buying an additional 11,150 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of IonQ by 234.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,375 shares of the company’s stock worth $413,000 after buying an additional 29,000 shares during the last quarter. Finally, Oxford Wealth Group LLC acquired a new position in shares of IonQ during the 1st quarter worth $174,000. Institutional investors and hedge funds own 41.42% 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.