TLDR
- BofA Securities started coverage on IonQ with a Buy rating and a $60 price target.
- IonQ stock traded near $45.48, up about 1% on the day.
- The bank values IonQ using a blended 5.4x EV/S multiple on projected 2030 revenue.
- IonQ’s stock dipped about 1% in premarket trading despite the new Buy rating.
- Other analysts, including StoneX, Cantor Fitzgerald, Mizuho and B.Riley, have also weighed in recently with mixed price targets.
IonQ stock traded around $45.48 on Monday, up roughly 1% for the day after Bank of America initiated coverage on the quantum computing company. The new rating pushed the stock into focus even though it had slipped about 1% in premarket trading.
BofA set a Buy rating on IonQ with a price target of $60. That target sits well above current trading levels but below some of the more optimistic calls on Wall Street.
Analyst Vivek Arya pointed to IonQ’s semiconductor-enabled approach to scaling qubit count as a key reason for the call. He also flagged the company’s wide customer base across quantum computing, communications and sensing.
How BofA Built Its Price Target
BofA applied a 7.0x EV/S multiple to $2.5 billion in estimated 2030 quantum hardware and services revenue. It then applied a 2.0x multiple to $1.2 billion in projected foundry revenue for the same year.
That math results in a blended 5.4x EV/S multiple for fiscal 2030. IonQ posted $246.47 million in revenue over the past twelve months, a jump of 371% from the prior year.
InvestingPro data suggests IonQ looks overvalued against its own Fair Value estimate at current prices. Analyst price targets on the stock currently range from $41.85 to $100.
IonQ remains the largest public pure-play quantum computing company by revenue. The company has leaned on acquisitions to build out its business beyond core quantum hardware.
Arya noted that IonQ has used deals to push into quantum networking, security, sensing, space and foundry services. He said this broader footprint has added revenue streams and enterprise customer relationships while the industry works toward fault-tolerant computing.
What Recent Deals Added
The SkyWater Technology acquisition closed recently and brought wafer fabrication and packaging capabilities in-house. That deal supports IonQ’s plan to build its Superion line of quantum systems using semiconductor manufacturing techniques.
Arya highlighted the Superion 256 system specifically. It combines electronic qubit control from Oxford Ionics with SkyWater’s fab and packaging work, cutting down on the optical complexity found in older designs.
IonQ also recently unveiled what it calls the industry’s first end-to-end real-time quantum error correction decoder. The company says this tool allows for real-time error correction without slowing down execution speed.
Following these updates, IonQ raised its fiscal 2026 revenue guidance. The new midpoint sits at $455 million, up from a prior midpoint of $285 million.
BofA isn’t alone in backing the stock. StoneX reiterated a Buy rating with a $60 target, while Cantor Fitzgerald kept an Overweight rating with a $70 target.
Mizuho took a more cautious stance, trimming its price target to $52 from $61 on valuation grounds. B.Riley stayed bullish with a Buy rating and a $100 target, citing the revenue lift from the SkyWater deal.
IonQ also introduced the broader Superion QC family at recent investor events, alongside its quantum foundry offering. Systems built at SkyWater Technology are expected to begin deliveries in early 2027.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
