IonQ (NYSE:IONQ) Trading Up 12.4% - Still a Buy?

Key Points

• IonQ shares jumped 12.4% on Thursday, trading as high as $61.12 on heavy volume, far above its average daily trading level.
• Investor sentiment was boosted by reports that the U.S. may invest $2 billion in quantum computing, along with IonQ’s strong quarterly update showing record revenue growth, a bigger backlog, and a higher 2026 revenue outlook.
• Despite the rally, IonQ still faces valuation and profitability concerns: it posted a quarterly EPS miss and remains loss-making, though analysts are broadly bullish with a Moderate Buy consensus and a $68.63 target price.

IonQ, Inc. (NYSE:IONQ - Get Free Report) was up 12.4% during trading on Thursday . The stock traded as high as $61.12 and last traded at $58.9860. Approximately 61,970,606 shares were traded during mid-day trading, an increase of 138% from the average daily volume of 26,021,352 shares. The stock had previously closed at $52.47.

Trending Headlines about IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: The U.S. is reportedly investing $2 billion in quantum computing, boosting the entire sector and sparking a strong move in IonQ shares. Why is IonQ (IONQ) stock rocketing higher today
• Positive Sentiment: IonQ’s recent quarterly update showed record revenue growth, a higher backlog, and an increased 2026 revenue outlook, reinforcing the company’s growth story. IonQ (IONQ) Is Down 5.0% After Raising 2026 Outlook And Announcing SkyWater Acquisition
• Positive Sentiment: Wall Street coverage remains upbeat, with analysts described as optimistic about IonQ, which can support the stock’s higher valuation. Wall Street Bulls Look Optimistic About IonQ (IONQ): Should You Buy?
• Positive Sentiment: Investors are also responding to IonQ’s expanding “full-stack” strategy, including acquisitions and vertical integration, which could improve long-term competitiveness. IonQ: The Only Quantum Stock I'm Considering (Rating Upgrade)
• Neutral Sentiment: Several articles highlight that quantum-computing stocks are breaking out as a group, suggesting IonQ’s move is partly driven by sector momentum rather than only company-specific news. Quantum Computing Stocks Break Out After Government Stake
• Negative Sentiment: Despite the bullish news, some coverage notes that IonQ still carries meaningful losses, including a large adjusted EBITDA deficit, which remains a risk for investors. IonQ: The Only Quantum Stock I'm Considering (Rating Upgrade)

Analyst Ratings Changes

Several analysts recently commented on IONQ shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of IonQ in a research note on Monday, February 9th. Northland Securities started coverage on IonQ in a report on Monday, April 20th. They set an "outperform" rating and a $55.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $60.00 price objective on shares of IonQ in a report on Monday, May 4th. Morgan Stanley set a $48.50 price objective on IonQ in a report on Thursday, May 7th. Finally, Benchmark reduced their price objective on IonQ from $75.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.63.

IonQ Price Performance

The company has a market cap of $22.02 billion, a price-to-earnings ratio of -210.66 and a beta of 3.05. The business's 50-day simple moving average is $39.31 and its 200-day simple moving average is $43.16.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.08). The business had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business's revenue was up 754.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) EPS. As a group, sell-side analysts forecast that IonQ, Inc. will post -1.99 EPS for the current year.

Insider Transactions at IonQ

In other news, insider John W. Raymond sold 2,800 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the transaction, the insider directly owned 83,963 shares of the company's stock, valued at $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert T. Cardillo sold 5,165 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares of the company's stock, valued at approximately $4,428,757.04. This trade represents a 4.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,354 shares of company stock valued at $504,428 over the last three months. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IonQ

A number of institutional investors have recently modified their holdings of the company. Clear Street Group Inc. acquired a new stake in IonQ during the 3rd quarter valued at approximately $61,488,000. Western Wealth Management LLC grew its stake in IonQ by 222.8% during the 3rd quarter. Western Wealth Management LLC now owns 23,762 shares of the company's stock valued at $1,461,000 after purchasing an additional 16,400 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in IonQ by 56.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,545 shares of the company's stock valued at $2,924,000 after purchasing an additional 17,215 shares in the last quarter. Swedbank AB acquired a new stake in IonQ during the 4th quarter valued at approximately $2,708,000. Finally, Penserra Capital Management LLC grew its stake in IonQ by 64.3% during the 3rd quarter. Penserra Capital Management LLC now owns 800,141 shares of the company's stock valued at $49,208,000 after purchasing an additional 313,008 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

About IonQ

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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