IonQ (IONQ) Expected to Announce Earnings on Wednesday

IonQ (NYSE:IONQ) is expected to issue its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.23) per share and revenue of $10.28 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

IonQ Stock Down 6.0 %

IONQ stock opened at $31.74 on Monday. The stock has a market cap of $6.87 billion, a P/E ratio of -39.18 and a beta of 2.40. IonQ has a twelve month low of $6.22 and a twelve month high of $54.74. The business’s 50-day moving average price is $39.89 and its 200-day moving average price is $24.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IONQ shares. Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised 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. DA Davidson upgraded IonQ to a “strong-buy” rating in a report on Thursday. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Benchmark lifted their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One 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, the stock currently has an average rating of “Buy” and an average target price of $33.00.

Insider Buying and Selling at IonQ

In other news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock worth $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.