Shares of quantum computing company IonQ Inc (NYSE:IONQ) are up on Thursday, after the company reported upbeat second-quarter results.
• IonQ stock is surging to new heights today. What’s driving IONQ stock higher?
Here are the key analyst takeaways:
- Rosenblatt Securities analyst John McPeake reaffirmed a Buy rating and price target of $100.
- Needham analyst Quinn Bolton reiterated a Buy rating and price target of $65.
- Cantor Fitzgerald analyst Troy Jensen maintained an Overweight rating and price target of $70.
- JPMorgan analyst Mayur Ramdhani reiterated a Neutral rating and price target of $50.
Check out other analyst stock ratings.
Rosenblatt Securities: IonQ’s revenues grew 287% year-on-year to $80 million, topping Street expectations by 20%, with the upside being driven by quantum compute, “and was hence organic,” McPeake said in a note. “Higher one-time and some ongoing SkyWater expenses impacted EBITDA,” he wrote.
Management raised its full-year guidance to $280-$290 million, from the prior projection of $260-$270 million, while reiterating its expectation of at least 100% organic growth, the analyst stated.
The company indicated that its electronically controlled 256-qubit chip would be ready for integrated systems testing in the back half of 2026 and for commissioning in the first half of 2027, he further noted.
Needham: IonQ reported revenues of $80.1 million, significantly ahead of Street’s estimate of $66.4 million, Bolton said. “Revenue diversity remained strong this quarter as international customers accounted for ~50% of revenue, commercial customers ~60%, and multi-product sales ~25%,” he wrote.
The analyst added that the main highlights were:
- The company raising its 2026 revenue guidance to $280-$290 million to reflect its organic business (compute), which grew 130% year-on-year in the second quarter.
- IonQ secured regulatory approval and closed its previously announced acquisition of SkyWater.
- The company continued to make progress on its sixth-generation, 256Q system, with its first fully integrated chips now being tested.
- Demand is accelerating for the company’s quantum security products.
Cantor Fitzgerald: IonQ reported record-high revenues, beating consensus estimates, driven by 132% year-on-year growth in organic revenues, Jensen said. The company posted a net loss of $1.87 billion, mainly due to “a $1.6B mark-to-market loss on the fair value of warrant liabilities,” he added.
Excluding costs associated with the SkyWater acquisition, IonQ’s adjusted EBITDA loss would have been $95.6 million, the analyst stated.
The company is “in the early innings of commercializing quantum,” and seems poised to capture 30% of the quantum hardware, software and services market by 2035, “which equates to $954 million in present-value terms,” he further wrote.
JPMorgan: IonQ reported a record quarter with revenue coming in well ahead of Street expectations and management raising its full-year outlook again, Ramdhani said. The “more important story” is the company’s progress “across roadmap execution, vertical integration, and platform breadth,” which would ultimately drive its multi-year revenue and profitability trajectory, he noted.
IonQ’s organic growth continues to be meaningfully higher than management’s full-year target of 100% growth, the analyst stated. The company’s expanding RPO (remaining performance obligation) base, which is up nearly 300% year-on-year, “reinforces our view that near-term visibility remains solid heading into 2H26 and 1H27,” he further wrote.
IONQ Price Action: Shares of IonQ were up 2.85% to $41.07 at the time of publication on Thursday.