IonQ (NYSE:IONQ) Posts Quarterly Earnings Results, Misses Expectations By $0.70 EPS

IonQ (NYSE:IONQ - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.93) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.70), Zacks reports. The firm 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 Stock Down 1.3 %

Shares of NYSE:IONQ traded down $0.31 during midday trading on Friday, reaching $24.60. The company had a trading volume of 21,935,384 shares, compared to its average volume of 26,456,176. The business's 50 day moving average price is $38.59 and its 200 day moving average price is $24.76. The stock has a market cap of $5.32 billion, a PE ratio of -30.37 and a beta of 2.41. IonQ has a 1-year low of $6.22 and a 1-year high of $54.74.

Analysts Set New Price Targets

IONQ has been the topic of a number of research reports. Needham & Company LLC restated a "buy" rating and issued a $54.00 price target on shares of IonQ in a report on Thursday. The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Benchmark cut their price target on IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday. Craig Hallum boosted their price target on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, DA Davidson raised IonQ to a "strong-buy" rating in a research report on Thursday, February 20th. One 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, IonQ currently has an average rating of "Buy" and an average target price of $44.80.

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Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 9,780 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the transaction, the chief financial officer now owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the company'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 directly owns 414,363 shares in the company, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by insiders.

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.