IonQ (NYSE:IONQ) Price Target Raised to $30.00 at The Goldman Sachs Group

IonQ (NYSE:IONQ) had its price objective increased by The Goldman Sachs Group from $16.00 to $30.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the company. DA Davidson started coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target for the company. Craig Hallum lifted their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC upped their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark raised their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and a consensus price target of $33.00.

IonQ Trading Up 7.4 %

IonQ stock opened at $32.48 on Friday. The company has a market cap of $7.03 billion, a PE ratio of -40.10 and a beta of 2.43. IonQ has a 1 year low of $6.22 and a 1 year high of $54.74. The company’s 50-day moving average is $34.12 and its two-hundred day moving average is $17.63.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The business had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ’s revenue was up 102.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.22) earnings per share. Research analysts forecast that IonQ will post -0.86 EPS for the current year.

Insider Buying and Selling at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,507 shares of company stock valued at $2,279,308 in the last 90 days. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new position in shares of IonQ in the fourth quarter valued at $216,000. GAMMA Investing LLC lifted its stake in IonQ by 73.2% in the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after acquiring an additional 480 shares during the last quarter. Versant Capital Management Inc grew its position in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after acquiring an additional 890 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of IonQ in the 3rd quarter valued at about $91,000. Finally, Geode Capital Management LLC lifted its stake in IonQ by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after purchasing an additional 199,360 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

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.