IonQ Analysts Raise Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
IonQ, Inc. reported Q2 revenue of $5.5 million, a 111% YoY increase, beating the consensus estimate of $4.35 million. However, the company reported a quarterly loss of 22 cents per share, missing analyst estimates for a loss of 13 cents per share. IonQ raised its full-year revenue outlook to $18.9 million to $19.3 million. Following the earnings announcement, Goldman Sachs, Benchmark, and Morgan Stanley increased their price targets on IonQ.
August 14, 2023 | 1:02 pm
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IonQ reported better than expected Q2 revenue and raised its full-year revenue outlook. However, the company's quarterly loss was larger than expected. Following the earnings announcement, several analysts increased their price targets on IonQ.
IonQ's better than expected Q2 revenue and increased full-year revenue outlook are positive for the stock. However, the larger than expected loss could be a concern for some investors. The increased price targets from analysts suggest they see potential in the stock, which could drive its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100