IonQ, a quantum computing company listed on (NYE:IONQ), is set to release its quarterly earnings data on May 11, after market close. Analysts predict the company will report a loss of $0.08 per share for the quarter. In recent months, IonQ has received “buy” and “equal weight” ratings from various analysts, with an average target price of $9.00. Institutional investors such as State Street Corp, JPMorgan Chase & Co., Vanguard Group Inc., Northern Trust Corp, and Norges Bank have made significant changes to their positions in the company, with 46.18% of the stock now owned by institutional investors.
Investors keep an eye on IonQ’s performance as quantum computing is expected to disrupt various industries. Quantum computing can provide solutions for complex problems that cannot be solved with traditional computing, such as optimizing logistics, developing new materials, and creating more secure cryptography. IonQ, a leading player in the field, uses trapped ions technology to build quantum computers. The company has made significant progress in recent years, announcing its first 32-qubit quantum computer in 2020, and partnering with Microsoft (MSFT)to provide cloud-based quantum computing services. As the demand for quantum computing grows, IonQ’s financial results and technological advancements will continue to shape the future of the industry.
IONQ Stock Analysis & Forecast
According to three analysts, the average target price for IONQ Inc. stock over the next 12 months is USD 8.00, indicating a “Strong Buy” rating. However, Stock Target Advisor’s analysis of IONQ Inc. is “Bearish,” based on one positive signal and six negative signals. The last closing price of IONQ Inc. stock was USD 5.41, with a slight increase of 0.19% over the past week. However, the stock has shown a significant decline of 12.03% over the past month and 24.34% over the last year.