Why IONQ Inc’s (IONQ) Stock Is Up 4.71% (2024)

Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate IONQ Inc before investing.

In this article, we go over a few key elements for understanding IONQ Inc’s stock price such as:

Before we jump into IONQ Inc’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

IonQ, Inc. is a quantum computing company. The Company is engaged in quantum computing and develops general-purpose quantum computing systems. The Company has developed custom hardware, custom firmware, and an operating system to arrange the quantum computers. The Company's computer systems consist of trapped-ion quantum technology. The Company makes access to its quantum computers via three cloud platforms, Amazon Web Services (AWS) Amazon bracket, Microsoft Azure Quantum, and Google?s Cloud Marketplace, and to select customers via its own cloud service. The Company supplements its QCaaS offering with professional services focused on assisting its customers in applying quantum computing to their businesses. The Company also sells full quantum computing systems to customers, either over the cloud or for local access.

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As of February 08, 2024, 4:00 PM, CST, IONQ Inc’s stock price was $10.90.

IONQ Inc is up 4.71% from its previous closing price of $10.41.

During the last market session, IONQ Inc’s stock traded between $10.16 and $10.50. Currently, there are 203.39 million shares of IONQ Inc stock available for purchase.

Unfortunately, IONQ Inc’s P/E ratio is not significant enough to use for stock price evaluation. We recommend investors evaluate other financial metrics to understand its overall valuation.

IONQ Inc’s (IONQ) price is currently up 6.13% so far this month.

During the month of February, IONQ Inc’s stock price has reached a high of $10.99 and a low of $9.60.

Over the last year, IONQ Inc has hit prices as high as $21.60 and as low as $4.38. Year to date, IONQ Inc’s stock is up 215.94%.

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Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of February 07, 2024, there were 2 analysts who downgraded IONQ Inc’s stock and 2 analysts who upgraded over the last month.

Additionally, you'll want to evaluate IONQ Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on IONQ Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

IONQ Inc’s current valuation based on AAII’s Value Grade is a F, which means it is considered to be Ultra Expensive.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about IONQ Inc (IONQ) by visiting AAII Stock Evaluator.

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of February 07, 2024, IONQ Inc has a weighted four-quarter relative price strength of 14.88%, which translates to a Momentum Score of 92 and is considered to be Very Strong.

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As of February 8, 2024, IONQ Inc’s stock price is $10.90, which is up 4.71% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like IONQ Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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