IonQ Reports Earnings Results, Misses Estimates by $0.70 EPS

IonQ (NYSE:IONQ) announced its quarterly earnings on Wednesday, revealing an earnings per share (EPS) of ($0.93) for the quarter. This figure fell short of analysts' consensus estimate of ($0.23) by a significant margin of ($0.70), as reported by Zacks. Additionally, IonQ experienced a negative return on equity of 36.82% and reported a staggering negative net margin of 457.85%. The company has adjusted its financial guidance for FY 2025 and Q1 2025 to reflect these results.

IonQ Share Performance

During trading on Wednesday, shares of IonQ increased by $0.20, reaching a price of $29.93. A total of 13,757,499 shares were traded, notably less than the average trading volume of 26,338,814 shares. Over the past year, IonQ's stock has seen a 52-week low of $6.22 and a high of $54.74. The company currently holds a market capitalization of $6.48 billion and has a price-to-earnings ratio of -36.95.

Recent Analyst Ratings

In recent reports, several research firms have provided updates on IonQ's stock. Needham & Company LLC raised their price target from $13.00 to $18.00, labeling the stock as a "buy". The Goldman Sachs Group also increased their target price from $16.00 to $30.00 while maintaining a "neutral" rating. Benchmark upgraded their price target from $12.00 to $22.00, giving it a "buy" rating. Additionally, DA Davidson rated IonQ as a "strong-buy", and Craig Hallum raised their target from $22.00 to $45.00, maintaining a "buy" rating. Currently, the stock has an average rating of "Buy" from analysts, with an estimated average target price of $33.00.

Insider Trading Activity

In insider trading news, Chief Revenue Officer Rima Alameddine sold 21,337 shares of IonQ on December 11 at an average price of $29.73, totaling $634,349.01. After this transaction, Alameddine owns 571,321 shares valued at approximately $16.99 million. Furthermore, CEO Peter Hume Chapman sold 13,106 shares on the same day for $389,641.38. This sale represented a 3.07% decrease in his ownership stake. Over the past 90 days, a total of 44,223 shares have been sold by insiders, with corporate insiders owning approximately 11.60% of the stock.

About IonQ

IonQ, Inc. is involved in the development of general-purpose quantum computing systems in the United States. The company provides access to its quantum computers, which vary in qubit capacities, through cloud platforms, including Amazon Web Services (AWS), Microsoft's Azure Quantum, and Google's Cloud Marketplace.

IonQ, Earnings, Analysis