IonQ Inc [IONQ] Revenue clocked in at $19.74 million, down -9.28% YTD: What’s Next?

IonQ Inc [NYSE: IONQ] jumped around 0.59 points on Monday, while shares priced at $11.24 at the close of the session, up 5.54%. The company report on February 22, 2024 at 8:00 AM that IonQ Achieves Critical First Step Towards Developing Future Quantum Networks.

IonQ’s Research & Development team achieves first known commercial demonstration of ion-photon entanglement, a key technical milestone for networking quantum computers.

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IonQ (NYSE: IONQ), a leader in the quantum computing industry, today announced it has generated photons entangled with ions repeatedly and reproducibly, creating a quantum state which allows future quantum systems to communicate and transfer information between each other. This achievement marks the first known commercial demonstration of ion-photon entanglement outside of academic environments. This major step towards quantum networking and photonic interconnects will play an integral part in helping IonQ deliver significantly higher computational power in next-generation systems.

Compared to the average trading volume of 6.73M shares, IONQ reached a trading volume of 6332585 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 $16.00 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 2.00. 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. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on April 26, 2023, representing the official price target for IonQ Inc stock. Previously, the target price had yet another raise to $9, while Needham analysts kept a Buy rating on IONQ stock.

The Average True Range (ATR) for IonQ Inc is set at 0.64, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 116.56. The Price to Book ratio for the last quarter was 4.60, with the Price to Cash per share for the same quarter was set at 1.88.

How has IONQ stock performed recently?

IonQ Inc [IONQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.88. With this latest performance, IONQ shares dropped by -0.35% in over the last four-week period, additionally sinking by -23.12% over the last 6 months – not to mention a rise of 135.15% 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 52.19, with the RSI for the last a single of trading hit 56.34, and the three-weeks RSI is set at 49.77 for IonQ Inc [IONQ]. The present Moving Average for the last 50 days of trading for this stock 11.77, while it was recorded at 10.83 for the last single week of trading, and 12.90 for the last 200 days.

IonQ Inc [IONQ]: Deeper insight into the fundamentals

IonQ Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.12 and a Current Ratio set at 14.12.

Earnings analysis for IonQ Inc [IONQ]

With the latest financial reports released by the company, IonQ Inc posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.80%. 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]

The top three institutional holders of IONQ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IONQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IONQ stock with ownership which is approximately 5.8325%.