DA Davidson Comments on IonQ's FY2024 Earnings (NYSE:IONQ)

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

Several other brokerages have also recently weighed in on IONQ. The Goldman Sachs Group boosted 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. Needham & Company LLC reiterated a "buy" rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Benchmark cut their price target on shares of IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $44.80.

IonQ Price Performance

Shares of NYSE IONQ traded down $0.31 during trading hours on Monday, reaching $24.60. The stock had a trading volume of 21,880,667 shares, compared to its average volume of 26,453,607. The business's fifty day moving average is $38.99 and its two-hundred day moving average is $24.63. IonQ has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -30.37 and a beta of 2.41.

Insider Buying and Selling at IonQ

In other news, CEO Peter Hume Chapman sold 13,106 shares of the business'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 completion of the transaction, the chief executive officer now owns 414,363 shares of the company's stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IONQ. Pathway Financial Advisers LLC purchased a new position in IonQ during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in shares of IonQ in the fourth quarter worth approximately $27,000. TD Waterhouse Canada Inc. acquired a new position in IonQ during the fourth quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new position in IonQ during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors 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.