Needham slashes price target on IonQ Inc. [IONQ] – find out why.

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IonQ Inc. [NYSE: IONQ] stock went on an upward path that rose over 9.54% on Thursday, amounting to a one-week price increase of more than 13.23%. The company report on July 7, 2022 that IONQ LAWSUIT ALERT: Levi & Korsinsky Notifies IonQ, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline.


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Over the last 12 months, IONQ stock dropped by -51.63%. The one-year IonQ Inc. stock forecast points to a potential upside of 56.47. The average equity rating for IONQ stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $998.39 million, with 196.18 million shares outstanding and 176.56 million shares in the current float. Compared to the average trading volume of 5.82M shares, IONQ stock reached a trading volume of 2758859 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on IonQ Inc. [IONQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IONQ shares is $11.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IONQ stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for IonQ Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 08, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on November 22, 2021, representing the official price target for IonQ Inc. stock.

The Average True Range (ATR) for IonQ Inc. is set at 0.39, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 243.51. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 2.10.

IONQ Stock Performance Analysis:

IonQ Inc. [IONQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.23. With this latest performance, IONQ shares dropped by -10.46% in over the last four-week period, additionally sinking by -69.28% over the last 6 months – not to mention a drop of -51.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IONQ stock in for the last two-week period is set at 48.32, with the RSI for the last a single of trading hit 55.93, and the three-weeks RSI is set at 44.04 for IonQ Inc. [IONQ]. The present Moving Average for the last 50 days of trading for this stock 5.57, while it was recorded at 4.60 for the last single week of trading, and 12.21 for the last 200 days.

Insight into IonQ Inc. Fundamentals:

When it comes to the capital structure of this company, IonQ Inc. [IONQ] has a Total Debt to Total Equity ratio set at 0.01. Additionally, IONQ Total Debt to Total Capital is recorded at 0.01, with Total Debt to Total Assets ending up at 0.01.

Reflecting on the efficiency of the workforce at the company, IonQ Inc. [IONQ] managed to generate an average of -$8,107,299 per employee.IonQ Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 37.10 and a Current Ratio set at 37.10.

IONQ Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IONQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for IonQ Inc. go to 20.00%.

IonQ Inc. [IONQ] Insider Position Details

There are presently around $367 million, or 37.10% of IONQ stock, in the hands of institutional investors. The top three institutional holders of IONQ stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 29,277,852, which is approximately 0.165% of the company’s market cap and around 0.90% of the total institutional ownership; SB GLOBAL ADVISERS LTD, holding 6,138,729 shares of the stock with an approximate value of $31.0 million in IONQ stocks shares; and ACME, LLC, currently with $19.55 million in IONQ stock with ownership of nearly 0% of the company’s market capitalization.

Positions in IonQ Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 55 institutional holders increased their position in IonQ Inc. [NYSE:IONQ] by around 3,755,959 shares. Additionally, 45 investors decreased positions by around 11,662,727 shares, while 27 investors held positions by with 57,174,459 shares. The mentioned changes placed institutional holdings at 72,593,145 shares, according to the latest SEC report filing. IONQ stock had 27 new institutional investments in for a total of 1,408,787 shares, while 19 institutional investors sold positions of 1,666,190 shares during the same period.

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