IONQ

IONQ · NYSE

$31.26+$0.48 (+1.56%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $30.78

IONQ analyst rating

BuyConsensus of 14 analysts over the last 12 months. 79% rate it a buy.

Strong buy0
Buy11
Hold3
Underperform0
Sell0

12-month price target · 17 analysts

Average $69.27 (+121.6% upside)

Low: $42.27
Now: $31.26
High: $105.00

Upgrades and downgrades

The latest rating actions, newest first

IONQ analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 15, 2026	Maintains	Equal-Weight	$49.00 → $43.00	0%
Rosenblatt	Oct 15, 2026	Maintains	Buy	$100.00 → $70.00	32%
Rosenblatt	Oct 13, 2026	Maintains	Buy	$100.00	32%
B of A Securities	Sep 28, 2026	Initiates	Buy	$60.00	68%
Wedbush	Sep 22, 2026	Maintains	Outperform	$75.00	72%
Mizuho	Sep 9, 2026	Maintains	Outperform	$61.00 → $52.00	59%
Rosenblatt	Sep 9, 2026	Maintains	Buy	$100.00	32%
Needham	Sep 9, 2026	Maintains	Buy	$65.00	44%
Cantor Fitzgerald	Sep 9, 2026	Maintains	Overweight	$70.00	47%
Benchmark	Aug 6, 2026	Maintains	Buy	$60.00	60%

The case for and against

Updated Oct 14, 2026

Bull case

IonQ is compelling because it is evolving from a pure QCaaS provider into the first vertically integrated quantum platform, adding quantum foundry capabilities through the SkyWater acquisition and broadening its moat across hardware, networking, security, and manufacturing. The company’s roadmap is gaining commercial traction, highlighted by the $8.18 million Congruity360 quantum-safe protection agreement, acceptance of orders for its sixth-generation Superion platform, and management’s expectation of customer deliveries in 2027, all while the company’s full-stack technical work shows measurable progress in reducing resource requirements. Financially, 2026 revenue guidance has been raised to $450 million to $460 million, and 2026 and 2027 revenue estimates were increased to $455.0 million and $823.0 million, supporting a positive view on execution and growth.

Bear case

IonQ is a highly speculative deep-tech company whose core risk is that commercialization may lag far behind the market’s enthusiasm, leaving limited recurring revenue and an early-stage customer base vulnerable to delays or the loss of a few key contracts. Its roadmap to large-scale, fault-tolerant quantum computing faces substantial execution risk, while intense competition from better-capitalized rivals such as IBM, Google, Amazon, and Microsoft could erode any advantage from its trapped-ion approach. The valuation also appears demanding relative to fundamentals, with cited metrics showing about $3.0 billion of cash, an estimated 368 million shares, and an EV/Sales multiple of 23.9x based on the Present Value of the estimated 2035 revenue forecast, all before accounting for continued capital needs and dilution risk.

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