IonQ (IONQ) Projected to Post Quarterly Earnings on Wednesday

IonQ (NYSE:IONQ - Get Free Report) is expected to release its earnings data after the market closes on Wednesday, February 26th. Analysts expect IonQ to post earnings of ($0.23) per share and revenue of $10.28 million for the quarter. Persons interested in participating in the company's earnings conference call can do so using this link.

IonQ Price Performance

Shares of IONQ traded down $2.01 during midday trading on Friday, reaching $31.74. The stock had a trading volume of 15,720,912 shares, compared to its average volume of 14,630,694. IonQ has a 52 week low of $6.22 and a 52 week high of $54.74. The firm's 50 day moving average price is $39.89 and its 200-day moving average price is $24.14. The company has a market capitalization of $6.87 billion, a P/E ratio of -39.18 and a beta of 2.40.

Insider Transactions at IonQ

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

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on IONQ. The Goldman Sachs Group boosted their price objective on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. DA Davidson raised IonQ to a "strong-buy" rating in a research note on Thursday. Needham & Company LLC boosted their price objective on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, Benchmark boosted their target price on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $33.00.

IonQ Company Profile

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.