IonQ Stock Climbs Ahead of Q1 Earnings as Wall Street Sees 23% Upside

IonQ Inc. (IONQ) is set to post its Q1 report later today, and Wall Street looks broadly upbeat before the print. The stock has had a solid run in 2026, rising nearly 7% year-to-date.

Even so, the Street still sees more room for gains. Based on 11 top analysts tracked by TipRanks, IonQ has a Moderate Buy rating, with eight Buy calls, three Hold calls, and no Sell calls. The 12-month price target stands at $59.00, which points to about 22.92% upside from the last price.

Morgan Stanley’s top analyst Joseph Moore raised its price target on IonQ to $47 from $37, while keeping an Equal Weight rating on the stock. The firm made the change as part of its look at another week of earnings from the chip group.

That call shows a more balanced view. Morgan Stanley sees more value in IonQ than before, but it is not yet moving to a Buy rating. For a stock tied to quantum tech, that stance makes sense, since growth hopes are high, but proof from sales, cash use, and deal flow still matters.

Meanwhile, IONQ shares rose nearly 5% on Tuesday, closing at $48. Moreover, the stock is moving upwards in pre-market, rising nearly 3%.

Rosenblatt Stays Bullish

On the more bullish side, Rosenblatt analyst John McPeake kept a Buy rating on IonQ and set a $100 price target. That is far above the current share price and points to a much stronger long-term view.

Overall, IonQ heads into earnings with strong stock momentum and solid analyst support. The key issue now is whether the company can back up that sentiment with a clean Q1 update, clear demand signs, and a path that gives Wall Street more faith in its growth story.

Is IONQ a Good Stock to Buy?

Despite the stock’s recent rally, the Street still sees more room for gains. Based on 11 analysts, IonQ has a Moderate Buy rating, with eight Buy calls, three Hold calls, and no Sell calls. The average IONQ stock price target stands at $59.00, which points to about 23% upside from the last price.