IonQ (NYSE:IONQ) Issues Quarterly Earnings Results, Misses Estimates By $0.70 EPS

IonQ (NYSE:IONQ - Get Free Report) released its earnings results on Wednesday. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.70), Zacks reports. The business had revenue of $11.71 million during the quarter, compared to the consensus estimate of $10.28 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

IonQ Price Performance

IONQ traded down $0.31 on Friday, hitting $24.60. The company had a trading volume of 21,935,384 shares, compared to its average volume of 26,456,176. IonQ has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a fifty day simple moving average of $38.59 and a 200-day simple moving average of $24.76. The firm has a market capitalization of $5.32 billion, a P/E ratio of -30.37 and a beta of 2.41.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IONQ shares. DA Davidson raised IonQ to a "strong-buy" rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 target price on shares of IonQ in a report on Thursday. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. Benchmark reduced their price objective on IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday. Finally, The Goldman Sachs Group increased their price objective on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, IonQ currently has an average rating of "Buy" and an average price target of $44.80.

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Insiders Place Their Bets

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of IonQ 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 sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock worth $1,314,652 over the last three months. Company 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.