IonQ (NYSE:IONQ) Given “Buy” Rating at Benchmark

IonQ (NYSE:IONQ)‘s stock had its “buy” rating reaffirmed by Benchmark in a research note issued to investors on Monday,Benzinga reports. They currently have a $45.00 target price on the stock. Benchmark’s target price points to a potential upside of 96.33% from the stock’s previous close.

A number of other analysts also recently commented on IONQ. DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group lifted their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Craig Hallum increased their price target 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $44.80.

IonQ Price Performance

NYSE IONQ opened at $22.92 on Monday. The company has a fifty day moving average price of $31.35 and a 200-day moving average price of $27.17. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -28.30 and a beta of 2.50. IonQ has a 1 year low of $6.22 and a 1 year high of $54.74.

Insider Activity at IonQ

In related news, CFO Thomas G. Kramer sold 11,712 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now directly owns 944,510 shares in the company, valued at approximately $17,539,550.70. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares in the company, valued at $7,756,875.36. This represents a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IonQ

Large investors have recently added to or reduced their stakes in the business. PDS Planning Inc raised its holdings in shares of IonQ by 2.6% in the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock valued at $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC increased its position in shares of IonQ by 0.6% in the fourth quarter. Mariner LLC now owns 54,479 shares of the company’s stock worth $2,276,000 after purchasing an additional 350 shares during the last quarter. Allworth Financial LP raised its stake in IonQ by 15.2% in the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock valued at $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC grew its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after buying an additional 480 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after buying an additional 501 shares during the last quarter. Institutional investors 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.