IonQ (IONQ) Scheduled to Announce Earnings on Wednesday

IonQ (NYSE:IONQ) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.23) per share for the quarter. IonQ has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $11.38 million for the quarter, compared to the consensus estimate of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. IonQ’s quarterly revenue was up 106.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. On average, analysts expect IonQ to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

IonQ Price Performance

IONQ stock opened at $14.37 on Tuesday. The company has a market capitalization of $3.08 billion, a P/E ratio of -18.19 and a beta of 1.88. The firm’s fifty day simple moving average is $10.14 and its 200-day simple moving average is $8.68. IonQ has a 12 month low of $6.22 and a 12 month high of $18.20.

Analyst Ratings Changes

A number of research analysts have weighed in on IONQ shares. Benchmark cut their price objective on shares of IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 12th. Craig Hallum reduced their price objective on shares of IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of IonQ in a research note on Wednesday, October 2nd.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 9,875 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total transaction of $115,735.00. Following the transaction, the executive now owns 638,908 shares of the company’s stock, valued at approximately $7,488,001.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 66,000 shares of company stock valued at $972,331 in the last ninety days. Insiders own 11.60% of the company’s stock.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.