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Investing.com - Cantor Fitzgerald raised its price target on IonQ, Inc. (NYSE:IONQ) to $70.00 from $60.00 on Friday, while maintaining an Overweight rating on the quantum computing company’s stock. The new target represents potential upside from the current price of $57.43, following an impressive 159.75% return over the past year according to InvestingPro data.
The research firm cited IonQ’s position in the "very early innings of commercializing its technology" as a key factor behind the more bullish outlook. Cantor Fitzgerald believes IonQ can capture 30% of the quantum hardware, software, and services market by 2035. This optimism aligns with the company’s strong revenue growth of 113.07% over the last twelve months.
This market share would equate to $954 million in present value terms, using a 10% discount rate, according to the firm’s analysis. The new price target represents an enterprise value to sales ratio of 18.3x versus the previous assumption of 16.8x the present value of estimated 2035 sales. InvestingPro data shows IonQ maintains strong financial flexibility with more cash than debt and a healthy current ratio of 8.73.
Cantor Fitzgerald justified the higher multiple based on "increased momentum" IonQ is experiencing across its business segments. The firm specifically highlighted momentum in Quantum Computing, Quantum Network, and Quantum Security. Analyst consensus remains bullish with a "Buy" recommendation, though InvestingPro notes that 5 analysts have revised earnings downward for the upcoming period.
The price target increase reflects growing confidence in IonQ’s commercial potential in the quantum computing sector, where the company is working to establish market leadership as the technology moves toward broader adoption. Despite the positive outlook, InvestingPro analysis indicates the stock is currently trading above its Fair Value, with a Price/Book ratio of 8.95 and high revenue multiples. For deeper insights on IonQ and 1,400+ other stocks, explore the comprehensive Pro Research Reports available with an InvestingPro subscription.
In other recent news, IonQ reported its third-quarter 2025 earnings, showcasing a strong performance that exceeded market expectations. The company achieved a revenue of $39.9 million, significantly surpassing the anticipated $26.98 million. This financial achievement reflects IonQ’s robust market presence and operational strength. Additionally, IonQ has been selected for Stage B of the Defense Advanced Research Projects Agency’s (DARPA) Quantum Benchmarking Initiative. This selection follows the successful completion of Stage A and involves developing a detailed research and development roadmap through 2033. The initiative aims to establish standards for utility-scale quantum computing performance. These recent developments highlight IonQ’s ongoing advancements and strategic involvement in cutting-edge technology projects.
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