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

IonQ Inc. [NYSE: IONQ] slipped around -0.15 points on Tuesday, while shares priced at $6.40 at the close of the session, down -2.29%. The company report on March 30, 2023 that IonQ Announces Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update.

Full Year Results of $11.1 Million in Revenue and $24.5 Million in Bookings.

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IonQ Inc. stock is now 85.51% up from its year-to-date (YTD) trading value. IONQ Stock saw the intraday high of $6.61 and lowest of $6.27 per share. The company’s 52-week high price is 11.02, which means current price is +87.68% above from all time high which was touched on 04/11/23.

Compared to the average trading volume of 4.46M shares, IONQ reached a trading volume of 3644677 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 0.49, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 118.12. The Price to Book ratio for the last quarter was 2.25, with the Price to Cash per share for the same quarter was set at 1.74.

How has IONQ stock performed recently?

IonQ Inc. [IONQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.60. With this latest performance, IONQ shares gained by 35.31% in over the last four-week period, additionally plugging by 31.42% over the last 6 months – not to mention a drop of -39.96% 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 58.75, with the RSI for the last a single of trading hit 55.54, and the three-weeks RSI is set at 59.26 for IonQ Inc. [IONQ]. The present Moving Average for the last 50 days of trading for this stock 5.30, while it was recorded at 6.61 for the last single week of trading, and 5.11 for the last 200 days.

IonQ Inc. [IONQ]: Deeper insight into the 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 18.40 and a Current Ratio set at 18.40.

Earnings analysis for IonQ Inc. [IONQ]

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%.

Insider trade positions for IonQ Inc. [IONQ]

There are presently around $558 million, or 46.50% of IONQ stock, in the hands of institutional investors. The top three institutional holders of IONQ stocks are: VANGUARD GROUP INC with ownership of 15,115,608, which is approximately 10.858% of the company’s market cap and around 7.40% of the total institutional ownership; NEA MANAGEMENT COMPANY, LLC, holding 14,614,829 shares of the stock with an approximate value of $95.73 million in IONQ stocks shares; and BLACKROCK INC., currently with $56.21 million in IONQ stock with ownership of nearly 5.748% of the company’s market capitalization.

Positions in IonQ Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 84 institutional holders increased their position in IonQ Inc. [NYSE:IONQ] by around 8,480,643 shares. Additionally, 55 investors decreased positions by around 14,886,274 shares, while 41 investors held positions by with 61,802,845 shares. The mentioned changes placed institutional holdings at 85,169,762 shares, according to the latest SEC report filing. IONQ stock had 34 new institutional investments in for a total of 2,909,168 shares, while 21 institutional investors sold positions of 1,051,507 shares during the same period.


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