Valued at a market cap of over $20 billion, IonQ (IONQ) develops quantum computers and networks, selling access to systems of varying qubit capacities through cloud platforms including Amazon's (AMZN) AWS, Microsoft's (MSFT) Azure, and Alphabet's (GOOG) (GOOGL) Google Cloud. 

The Maryland-based company also provides quantum-safe networking solutions, quantum key distribution systems, random number generators, and single-photon detectors. Additionally, IonQ offers hardware design, consulting services, and algorithm development for quantum computing applications.

IONQ stock has almost tripled investor returns in the last 12 months and is expected to report its Q3 results tomorrow, Nov. 5, which will be a key driver of shares in the near term. Analysts tracking the quantum computing stock forecast sales to grow to $27 million in Q3 of 2025, up from $12.4 million in the year-ago period. Its loss per share is forecast to expand to $0.44 from $0.24 in the previous year.

Is IONQ Stock a Good Buy Right Now?

IonQ delivered impressive second-quarter results, showcasing the quantum computing pioneer's accelerating momentum across both computing and networking operations. Revenue reached $20.7 million, beating the high end of guidance by 15%, driven by the accelerated implementation of projects for existing customers. The company also completed a landmark $1 billion capital raise from Susquehanna, the largest single institutional investment in quantum computing history.

Management has raised its full-year 2025 revenue guidance to between $82 million and $100 million while expanding the company's strategic footprint through several transformative acquisitions. 

The pending Oxford Ionics acquisition positions IonQ to achieve an ambitious road map targeting 800 logical qubits by 2027 and 80,000 logical qubits by 2030. This represents what management believes is a five-year technical lead over competitors, with substantially superior unit economics that could be one to two orders of magnitude lower than rival approaches.

IonQ closed acquisitions of Lightsynq and Capella Space in Q2, expanding its quantum networking capabilities terrestrially and through space-based systems. The company now offers the only commercially certified quantum key distribution products globally, which offer theoretically unbreakable security based on physics rather than mathematical assumptions. 

Major customers in financial services, telecommunications, and government sectors are already deploying these solutions to protect against both current classical threats and future quantum computing attacks.

IonQ demonstrated practical quantum advantage through a collaboration with AstraZeneca (AZN), AWS, and Nvidia (NVDA) that delivered a 20-times speedup for drug development workflows. 

Additional partnerships with Japan's AIST research center, South Korea's KISTI institute, and the Electric Power Board of Tennessee expanded IonQ's global ecosystem while showcasing real-world applications across pharmaceutical research, energy optimization, and industrial manufacturing.

IonQ has attracted exceptional talent, including former IARPA Director Rick Muller, J.P. Morgan's (JPM) former technology research head Marco Pistoia, and co-founder Chris Monroe, who is returning as chief scientific advisor. 

The company holds world records for both qubit fidelity and remote entanglement generation, providing crucial advantages as quantum systems scale toward the millions of qubits needed for transformative commercial applications.

What Is the IONQ Stock Price Target?

Analysts tracking IONQ stock forecast revenue to increase from $43 million in 2024 to $775 million in 2029. Despite stellar top-line growth, the quantum computing company is expected to report a net loss of $72 million in 2029, compared to a loss of $214 million in 2024. 

Out of nine analysts covering IONQ stock, five recommend “Strong Buy,” one recommends “Moderate Buy,” two recommend “Hold,” and one recommends “Strong Sell.” The average IONQ stock price target is $64.62, which is above the current price of $53.81.

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