Shares of IonQ Inc (NYSE:IONQ) rose in early trading on Thursday after the company reported upbeat fourth-quarter results.
Here are the key analyst insights:
- DA Davidson analyst Alexander Platt maintained a Neutral rating, while reducing the price target from $55 to $35.
- Benchmark analyst David Williams reiterated a Buy rating, while cutting the price target from $75 to $65.
- Needham analyst Quinn Bolton reaffirmed a Buy rating, while trimming the price target from $80 to $65.
- Rosenblatt Securities analyst John McPeake maintained a Buy rating and price target of $100.
Check out other analyst stock ratings.
DA Davidson: IonQ reported solid fourth quarter earnings, with total revenue growing 429% year-on-year to $61.9 million, Platt said in a note. The company guided to full-year total revenue of $225-$245 million, implying around 81% growth at the midpoint, he added.
IonQ guided to first-quarter revenue of $48-$51 million, reflecting around 554% year-on-year growth at the midpoint, the analyst stated. A “Management noted that they’re continuing to see growing momentum for …