IonQ Inc. [IONQ] stock Initiated by Needham analyst, price target now $9

IonQ Inc. [NYSE: IONQ] stock went on an upward path that rose over 4.92% on Thursday, amounting to a one-week price increase of more than 11.26%. The company report on January 10, 2023 that Networked Quantum Computers: IonQ Acquires Assets of Entangled Networks.


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• Entangled Networks team joins IonQ to work on next generation networked quantum computer architectures and full-stack quantum compilers• Acquisition supports IonQ’s efforts to build large-scale quantum computers by enabling computation across multiple distributed quantum processors• IonQ expands investment in Canada, with Entangled Networks team serving as beachhead for IonQ in Toronto.

Today, IonQ, Inc. (NYSE: IONQ), announced its acquisition of the operating assets of Entangled Networks Ltd. (“Entangled Networks”), a Toronto-based company focused on enabling computation across multiple distributed quantum processors. As part of the transaction, the Entangled Networks team will join IonQ to launch IonQ Canada, strengthening IonQ’s already growing international presence. Entangled Networks, previously funded by investors like OurCrowd, marks IonQ’s first corporate acquisition, demonstrating ongoing market and industry leadership.

Over the last 12 months, IONQ stock dropped by -72.43%. The one-year IonQ Inc. stock forecast points to a potential upside of 56.91. 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 $781.97 million, with 198.30 million shares outstanding and 175.36 million shares in the current float. Compared to the average trading volume of 2.79M shares, IONQ stock reached a trading volume of 2979002 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 $9.40 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 0.26, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 86.89. The Price to Book ratio for the last quarter was 1.40, 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 11.26. With this latest performance, IONQ shares dropped by -9.40% in over the last four-week period, additionally sinking by -7.74% over the last 6 months – not to mention a drop of -72.43% 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 53.43, with the RSI for the last a single of trading hit 64.69, and the three-weeks RSI is set at 48.49 for IonQ Inc. [IONQ]. The present Moving Average for the last 50 days of trading for this stock 4.46, while it was recorded at 3.86 for the last single week of trading, and 5.83 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 21.20 and a Current Ratio set at 21.20.

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 $371 million, or 46.50% 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 26,350,067, which is approximately 0% of the company’s market cap and around 7.40% of the total institutional ownership; VANGUARD GROUP INC, holding 13,635,143 shares of the stock with an approximate value of $55.22 million in IONQ stocks shares; and BLACKROCK INC., currently with $32.87 million in IONQ stock with ownership of nearly 3.921% of the company’s market capitalization.

Positions in IonQ Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 63 institutional holders increased their position in IonQ Inc. [NYSE:IONQ] by around 8,774,366 shares. Additionally, 61 investors decreased positions by around 10,037,168 shares, while 36 investors held positions by with 72,696,786 shares. The mentioned changes placed institutional holdings at 91,508,320 shares, according to the latest SEC report filing. IONQ stock had 24 new institutional investments in for a total of 5,471,841 shares, while 13 institutional investors sold positions of 2,418,772 shares during the same period.

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