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

IonQ Inc. [NYSE: IONQ] stock went on an upward path that rose over 10.58% on Friday, amounting to a one-week price increase of more than 12.51%. The company report on September 5, 2023 at 8:00 AM that IonQ to Host Analyst Day on September 19, 2023.

IonQ (NYSE: IONQ), an industry leader in quantum computing, today announced that the company will host an Analyst Day on Tuesday, September 19, 2023 from 9:00 a.m. to approximately 2:30 p.m. Eastern Time. Members of the Company’s management team will provide an overview of the company’s vision, strategy, technology, and products. The company’s Analyst Day will be simultaneously webcast on the Investor Relations website, which can be accessed here, or directly here.

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Over the last 12 months, IONQ stock rose by 264.91%. The one-year IonQ Inc. stock forecast points to a potential downside of -8.65. The average equity rating for IONQ stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.54 billion, with 201.43 million shares outstanding and 179.34 million shares in the current float. Compared to the average trading volume of 12.66M shares, IONQ stock reached a trading volume of 13026564 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 $17.80 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 2.50. 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.

Craig Hallum have made an estimate for IonQ Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 11, 2023.

The Average True Range (ATR) for IonQ Inc. is set at 1.61, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 216.07. The Price to Book ratio for the last quarter was 7.44, with the Price to Cash per share for the same quarter was set at 2.05.

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 12.51. With this latest performance, IONQ shares gained by 33.47% in over the last four-week period, additionally plugging by 300.41% over the last 6 months – not to mention a rise of 264.91% 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 62.22, with the RSI for the last a single of trading hit 64.69, and the three-weeks RSI is set at 60.85 for IonQ Inc. [IONQ]. The present Moving Average for the last 50 days of trading for this stock 15.59, while it was recorded at 18.58 for the last single week of trading, and 8.38 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 16.60 and a Current Ratio set at 16.60.


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] Institutonal Ownership Details

The top three institutional holders of IONQ stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in IONQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in IONQ stock with ownership which is approximately 5.7381%.

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