Throughout the last three months, 4 analysts have evaluated IonQ (NYSE:IONQ), offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 0 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 0 | 1 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $16.38, a high estimate of $18.00, and a low estimate of $11.50. This current average has increased by 26.0% from the previous average price target of $13.00.
Understanding Analyst Ratings: A Comprehensive Breakdown
In examining recent analyst actions, we gain insights into how financial experts perceive IonQ. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Quinn Bolton | Needham | Maintains | Buy | $18.00 | - |
| Quinn Bolton | Needham | Maintains | Buy | $18.00 | - |
| Toshiya Hari | Goldman Sachs | Lowers | Neutral | $11.50 | $13.00 |
| Quinn Bolton | Needham | Maintains | Buy | $18.00 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to IonQ. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of IonQ compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of IonQ's stock. This examination reveals shifts in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of IonQ's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
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Delving into IonQ's Background
IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company's quantum computing systems, and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.
IonQ: Financial Performance Dissected
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining IonQ's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 76.94% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: IonQ's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -522.18%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): IonQ's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -8.21%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): IonQ's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -7.22%, the company may face hurdles in achieving optimal financial returns.
Debt Management: IonQ's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.03.
What Are Analyst Ratings?
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.