IonQ Inc. (NYSE:IONQ) shares are flying Friday after reporting third-quarter results that beat analyst estimates. Here’s what you should know.
- IonQ shares are climbing with conviction. What’s behind IONQ gains?
IonQ Stock Rises After Earnings Beat and Higher Outlook
IonQ shares are climbing after the quantum firm beat Wall Street’s forecasts for the third quarter, which it reported Thursday evening.
Sales hit $173.83 million, well above the $141.63 million analysts projected, and jumped 336% from a year earlier on Tempo computer deployments, sensing and space deliveries, and the SkyWater acquisition. The adjusted loss came to 29 cents a share, narrower than the 38 cents analysts had predicted.
The outlook may matter even more. Analysts had estimated $455.17 million in 2026 sales, but IonQ now expects between $505 million and $515 million, up from a previous outlook of $450 million up to $460 million. The $510 million midpoint lands about 12% above the estimate.
BofA Keeps Buy On IonQ But Cuts Target
BofA Securities analyst Vivek Arya stayed at Buy but lowered the price target from $60 down to $50. A sector-wide drop in quantum valuation multiples drove the cut, Arya explained, as IonQ’s platform business now trades at 6 times 2030 sales instead of 7 times, though that remains above the 4.5 times peer average. Arya wrote, “We see IONQ as the scale leader in quantum.”
Arya cited several reasons for the Buy. IonQ’s next-generation Superion 256 system has no capacity left for 2027 and is booking orders into 2028. New contracts worth about $290 million lifted the company’s backlog to $689 million, up from $485 million.
A DARPA program worth up to $300 million and an NVIDIA on-premises system also back its roadmap, Arya said, with the Superion ramp due in the second quarter of 2027. Arya raised sales estimates to $510 million this year, $950 million in 2027 and $1.5 billion in 2028.
Other firms trimmed targets while staying bullish. Cantor Fitzgerald kept Overweight and cut to $60, Needham kept Buy and cut to $48, and B. Riley Securities kept Buy and cut to $75 on Nov. 2. The consensus rating is a Buy, with a $64.78 average target.
IONQ Shares Are Popping
IONQ Price Action: IonQ shares were up 10.67% at $29.25 at the time of publication on Friday, according to Benzinga Pro.
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