IonQ, Inc. (NYSE:IONQ - Free Report) - Research analysts at DA Davidson issued their FY2024 earnings per share estimates for shares of IonQ in a research report issued on Thursday, February 20th. DA Davidson analyst A. Platt expects that the company will earn ($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.
Several other brokerages have also recently weighed in on IONQ. Needham & Company LLC boosted 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. The Goldman Sachs Group boosted their price target 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. Benchmark raised their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Craig Hallum upped their target price on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $33.00.
Check Out Our Latest Research Report on IONQ
IONQ stock opened at $31.25 on Monday. IonQ has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market cap of $6.76 billion, a P/E ratio of -38.58 and a beta of 2.40. The business has a fifty day moving average of $39.68 and a 200-day moving average of $24.44.
A number of hedge funds and other institutional investors have recently bought and sold shares of IONQ. Pathway Financial Advisers LLC bought a new position in shares of IonQ during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in IonQ in the fourth quarter valued at $27,000. TD Waterhouse Canada Inc. acquired a new stake in IonQ in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC bought a new stake in IonQ during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 41.42% of the company's stock.
In related news, CRO Rima Alameddine sold 21,337 shares of the firm's stock in a transaction on 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 $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 414,363 shares of the company's stock, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock valued at $1,314,652. Company insiders own 11.60% of the company's stock.
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.
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