IonQ (IONQ) Scheduled to Post Earnings on Wednesday

IonQ (NYSE:IONQ) is set to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce 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.Investors interested in registering for the company’s conference call can do so using this link.

IonQ (NYSE:IONQ) 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. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The firm had revenue of $11.38 million during the quarter, compared to the consensus estimate of $8.66 million. During the same period in the prior year, the company earned ($0.16) EPS. The firm’s revenue was up 106.4% compared to the same quarter last year. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Stock Down 6.0 %

Shares of IONQ opened at $16.74 on Wednesday. IonQ has a 52-week low of $6.22 and a 52-week high of $18.20. The stock has a market cap of $3.54 billion, a PE ratio of -20.16 and a beta of 2.05. The firm’s fifty day moving average is $9.52 and its two-hundred day moving average is $8.46.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IONQ. The Goldman Sachs Group dropped their price objective on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Benchmark cut their price target on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 12th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of IonQ in a research note on Wednesday, October 2nd. Finally, Craig Hallum cut their target price on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, IonQ has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Activity at IonQ

In other IonQ news, CRO Rima Alameddine sold 9,875 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total transaction of $115,735.00. Following the completion of the sale, the executive now owns 638,908 shares of the company’s stock, valued at $7,488,001.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 43,125 shares of company stock worth $566,300. 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.