IonQ Inc. (IONQ) stock, one of the leading pure-play quantum computing companies, is drawing significant analyst attention for its strong commercial execution and strategic acquisitions. On TipRanks, IONQ stock has a Strong Buy consensus rating based on seven Buys and two Hold ratings. The average IonQ price target of $79.75 implies nearly 67% upside potential from current levels. Notably, IonQ shares are up over 14% year-to-date and nearly 90% over the past year.
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IonQ’s distinct technical approach sets it apart from its peers, Rigetti Computing (RGTI) and D-Wave Quantum (QBTS), which use the popular superconducting quantum technology. IonQ uses a trapped-ion approach, which is more economical because it can be conducted at room temperature instead of requiring cooling to near absolute zero, making it more cost-efficient and scalable.
IonQ Hits Key Commercial Milestones
IonQ currently holds the record for quantum computing accuracy, with a 99.99% two-qubit gate fidelity. This measure shows how accurate calculations remain after passing through two processing gates, a key industry benchmark. The company is developing a 256-qubit system for 2026 that uses electronics instead of lasers to control qubits, streamlining production and lowering costs through standard semiconductor manufacturing.
IonQ also met its 2025 performance milestone of #AQ 64 on the IonQ Tempo platform three months ahead of schedule, marking a computational capacity 36 quadrillion times greater than leading commercial superconducting systems.
Notably, IonQ was selected for Stage B of DARPA’s Quantum Benchmarking Initiative, a major U.S. defense project aimed at measuring and defining progress in quantum computing. This underscores its leadership in shaping U.S. quantum computing standards and applications.
IonQ Makes Strategic Acquisitions
IonQ has pursued a series of acquisitions to strengthen its technology stack. The company acquired Skyloom Global, which develops space-based optical links capable of transmitting large data volumes from orbit to Earth. It also bought Lightsynq Technologies, a specialist in photonic interconnects and quantum memory, and completed a more than $1 billion acquisition of Oxford Ionics, combining trapped-ion and semiconductor-compatible technologies.
Further expanding its quantum networking reach, IonQ acquired Qubitekk and ID Quantique and agreed to acquire Capella Space, a satellite data company. These moves enhance its capabilities in photonics, secure communication, and space-based quantum networking, positioning IonQ as a frontrunner in building a global quantum computing ecosystem.
Is IonQ a Good Stock to Buy?
Recently, Cantor Fitzgerald analyst Troy Jensen reiterated his Buy rating on IonQ and raised the price target from $60 to $70, implying a 46.5% upside. Jensen noted that IonQ remains in the early stages of commercializing its technology and could capture up to 30% of the quantum hardware, software, and services market by 2035, which is currently valued at around $954 million.
Meanwhile, Rosenblatt Securities analyst John McPeake also raised his price target from $70 to a Street-high of $100, indicating an 109.3% potential upside. He noted the company’s $2 billion equity raise in October boosted its cash reserves to over $3 billion, enough to cover its estimated $0.9 billion cash burn until it reaches breakeven around 2030.
