B. Riley Initiates Buy on IonQ with $61 Price Target, Citing Quantum Growth

B. Riley analyst Craig Ellis initiated coverage of IonQ with a Buy Rating and a $61 price target, citing the company's revenue growth leader status and progressing pipeline. Ellis noted IonQ's trapped-ion technology provides a cost advantage and is crucial for solving complex problems. The analyst expects significant upside, with the stock trading at $42.42.

B. Riley analyst Craig Ellis has initiated coverage on IonQ (IONQ) with a Buy rating and a $61 price target, underscoring the company's leadership in quantum computing. Ellis highlighted IonQ's status as the revenue growth leader in the sector, citing its trapped-ion technology as a key advantage for solving complex problems [1]. The analyst expects significant upside, with the stock currently trading at $42.42.

Ellis noted that IonQ's trapped-ion technology offers a cost advantage and is crucial for scaling qubits while keeping error rates low, two major challenges in building practical quantum systems. The company's distinct position in the industry has attracted strong interest from growth-oriented investors and has been recognized by Wall Street [2].

IonQ's recent financial performance has been impressive. The company reported a revenue of $20.7 million in the second quarter of 2025, marking an 82% year-over-year (YoY) increase. This growth positions IonQ as one of the fastest-scaling names in the quantum computing space. However, rapid expansion comes at a cost. Operating expenses surged to $181.3 million, up more than 200% from last year, reflecting the company's heavy investment in research and development (R&D), sales, and talent acquisition [2].

Looking ahead, IonQ has set ambitious targets. The company aims to reach 2 million qubits by 2030, positioning itself to solve complex problems across various industries. With a market capitalization of about $12.3 billion, IonQ has been a standout performer. Over the past year, its stock has skyrocketed by 509%, dwarfing the broader S&P 500 Index's 15.4% gain. While momentum cooled this year, shares have staged a sharp comeback, surging nearly 73.8% in the past six months and rising 7.3% over the last five days [2].

Ellis also noted that IonQ's strong balance sheet, with $1.6 billion in cash and equivalents, provides a long runway for R&D, acquisitions, and commercialization. The company has set its full-year 2025 revenue guidance between $82–$100 million and expects Q3 revenue of $25–$29 million, suggesting momentum is only building [2].

Wall Street is generally bullish on IonQ. Out of nine analysts offering recommendations, five are in the Strong Buy camp, one calls it a Moderate Buy, and three maintain a Hold stance. The average analyst price target of $51 suggests 19% potential upside from current levels, with the Street-high target of $70 indicating a 64% rally from here [2].

However, investors must weigh the risks. Quantum computing remains unproven in enterprise adoption, and technical hurdles persist. The company's $1 billion 2030 sales target hinges on sustained innovation and execution in a competitive landscape [1].

References:
[1] https://finance.yahoo.com/news/analysts-think-quantum-computing-stock-113002711.html
[2] https://www.ainvest.com/news/ionq-uncertain-path-commercial-viability-balancing-hype-hardware-2509/