IonQ: Cantor Fitzgerald Raises PT to $60 from $45, Maintains Overweight Rating

IonQ: Cantor Fitzgerald Raises PT to $60 from $45, Maintains Overweight Rating

Cantor Fitzgerald has recently revised its price target for IonQ (NYSE: IONQ) from $45 to $60, while maintaining an "Overweight" rating for the stock. This update comes amidst a series of positive developments for the quantum computing company, including a substantial increase in quarterly revenue and several strategic acquisitions.

IonQ reported an 81.6% year-over-year increase in quarterly revenue, although it still posted an earnings miss with a loss of ($0.70) earnings per share. Despite this, research analysts have generally given IonQ a consensus rating of "Moderate Buy" with a target price of $46.78, indicating potential growth potential despite some insider sell-offs Modus Advisors LLC Buys New Shares in IonQ, Inc. $IONQ^[1].

Modus Advisors LLC, a significant investor, bought a new stake in IonQ in the second quarter, acquiring 5,100 shares valued at approximately $219,000. Several other hedge funds also made notable changes to their positions in the stock. Future Financial Wealth Management LLC lifted its stake by 50.0% in the first quarter, now owning 1,500 shares valued at $33,000. Miracle Mile Advisors LLC increased its stake by 2.5%, owning 20,500 shares valued at $452,000. Signaturefd LLC lifted its stake by 20.7%, owning 4,048 shares valued at $89,000. Golden State Wealth Management LLC increased its stake by 100.0%, owning 1,616 shares valued at $36,000. ORG Partners LLC raised its stake by 348.0%, owning 1,120 shares valued at $26,000 Modus Advisors LLC Buys New Shares in IonQ, Inc. $IONQ^[1].

IonQ also announced plans to acquire UK-based Oxford Ionics in a $1.075 billion transaction. This deal combines IonQ’s quantum compute and networking stack with Oxford Ionics’ high-fidelity trapped-ion-on-a-chip technology, aiming to deliver quantum systems with unprecedented scale and accuracy. The combined company expects to deliver systems with 256 physical qubits at 99.99% accuracy by 2026, scaling to 10,000 qubits at 99.99999% accuracy by 2027. By 2030, the company targets 2 million physical qubits and logical accuracies exceeding 99.9999999999% IonQ to acquire Oxford Ionics in $1.075B quantum computing deal^[2].

These developments underscore IonQ's strategic focus on advancing quantum computing technology and expanding its market reach. Cantor Fitzgerald's revised price target reflects the potential growth and strategic advantages that these initiatives may bring to the company. Investors should closely monitor IonQ's progress and the broader quantum computing market as it continues to evolve.