IonQ (IONQ) Scheduled to Post Quarterly Earnings on Wednesday

IonQ (NYSE:IONQ - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 6th. Analysts expect IonQ to post earnings of ($0.23) per share for the quarter. IonQ has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons that are interested in participating in the company's earnings conference call can do so using this link.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $11.38 million for the quarter, compared to analysts' expectations of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The firm's revenue was up 106.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Stock Up 0.7 %

IONQ traded up $0.12 during trading on Wednesday, hitting $16.87. The company had a trading volume of 23,647,914 shares, compared to its average volume of 6,966,911. The company has a market capitalization of $3.61 billion, a PE ratio of -21.35 and a beta of 2.05. IonQ has a one year low of $6.22 and a one year high of $18.20. The firm's 50-day moving average price is $9.70 and its 200 day moving average price is $8.52.

Insider Activity

In other news, CRO Rima Alameddine sold 9,159 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $10.72, for a total value of $98,184.48. Following the sale, the executive now directly owns 648,783 shares of the company's stock, valued at approximately $6,954,953.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 43,125 shares of company stock valued at $566,300. 11.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Benchmark cut their price target on shares of IonQ from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group cut their price target on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Craig Hallum cut their price target on shares of IonQ from $21.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of IonQ in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

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.