FY2024 Earnings Estimate for IonQ Issued By DA Davidson

IonQ, Inc. (NYSE:IONQ) – Research analysts at DA Davidson issued their FY2024 EPS estimates for IonQ in a report issued on Thursday, February 20th. DA Davidson analyst A. Platt anticipates that the company will earn ($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 research analysts also recently issued reports on the company. The Goldman Sachs Group upped their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum increased their target price on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.00.

IonQ Price Performance

IonQ stock opened at $29.83 on Monday. The business has a 50 day moving average of $39.40 and a 200-day moving average of $24.59. IonQ has a 1 year low of $6.22 and a 1 year high of $54.74. The company has a market capitalization of $6.46 billion, a P/E ratio of -36.83 and a beta of 2.41.

Hedge Funds Weigh In On IonQ

A number of institutional investors and hedge funds have recently modified their holdings of IONQ. Creative Planning boosted its holdings in shares of IonQ by 47.8% during the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock worth $213,000 after buying an additional 7,878 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ in the 3rd quarter worth $3,749,000. Ground Swell Capital LLC bought a new position in shares of IonQ in the 3rd quarter worth $110,000. PDS Planning Inc bought a new position in shares of IonQ in the 3rd quarter worth $101,000. Finally, Verity Asset Management Inc. lifted its holdings in shares of IonQ by 12.4% in the 3rd quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock worth $296,000 after purchasing an additional 3,736 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the 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 transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was 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. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. Corporate insiders own 11.60% of the company’s stock.

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.