Shares of quantum computing company IonQ (IONQ) surged about 20% on Thursday after fourth quarter results and outlook, which saw positive reactions from analysts.
Jefferies kept its Buy rating on IonQ but lowered the price target on the stock to $90 from $100.
“Strong December Q and outlook reinforces IonQ’s ability to scale across multiple growth vectors, backed by a semiconductor-leveraged roadmap and clear operating momentum. The 256‑qubit system remains on track for 4Q26, commercial demand continues to broaden, and, importantly, the core business saw +80% Y/Y growth in FY25, helping settle the organic vs. inorganic debate. We continue to view the setup for IONQ shares favorably,” said analysts led by Kevin Garrigan.
The analysts noted that IonQ delivered a revenue beat-and-raise quarter, and they view the company as well-positioned to scale across multiple growth vectors, including hardware/system sales, quantum networking/security deployments, and quantum sensing.
Garrigan and his team continue to view the setup for IonQ’s shares as attractive as the company pairs a semiconductor-leveraged roadmap with diversified commercial demand across compute, networking/security, and sensing.
J.P. Morgan maintained its Neutral rating but lowered IonQ’s price target to $42 from $47.
Analysts led by Peter Peng said that IonQ’s solid 2026 outlook reflects momentum across the product portfolio and strong customer traction, while adding that the technology roadmap remains on track.
“IonQ reported much better-than-expected December quarter results, reflecting strength across its quantum computing, networking, sensing, and security portfolio. For the March quarter, the team guided sales to $49.5M, well above consensus, on continued strong momentum across its product portfolio. Given robust customer demand and a $370M remaining performance obligation (RPO) team guided 2026 revenues to $235M (up 81% Y/Y), exceeding consensus expectations of $200.8M,” said Peng and his team.
Related stocks: Rigetti Computing (RGTI) and D-Wave Quantum (QBTS) each jumped about 8%, while Quantum Computing (QUBT) and Arqit Quantum (ARQQ) each rose around 4% on Thursday.