These are top 10 stocks traded on the Robinhood UK platform in July
Investing.com - Rosenblatt Securities initiated coverage on quantum computing company IonQ, Inc. (NYSE:IONQ) with a Buy rating and a $70.00 price target on Tuesday. The stock, currently trading at $42.34, has delivered an impressive 436% return over the past year, according to InvestingPro data.
The research firm views IonQ as an attractive investment opportunity in the quantum computing market, which it describes as "the next era of computing" with room for multiple winners rather than a single dominant player. With a market capitalization of nearly $12 billion and robust revenue growth of ~70% in the last twelve months, IonQ has caught investors’ attention.
Rosenblatt projects IonQ will exit 2025 with annualized revenues exceeding $100 million, with revenue nearly doubling in 2026 and potentially reaching $1 billion "over the next few years."
The firm’s $70 price target represents a 36.6x EV/S multiple on IonQ’s projected 2030 revenue when discounted back to present value.
Rosenblatt identified three key drivers for IonQ’s potential stock appreciation: successful execution of its product roadmap, development of a quantum ecosystem to capture value in quantum networking, and increasing partnerships and system sales.
In other recent news, IonQ has completed its acquisition of Capella Space Corporation. This strategic move is intended to create a space-based quantum key distribution network, integrating Capella’s satellite infrastructure with IonQ’s quantum technology for secure communications. Additionally, IonQ has announced a strategic collaboration with Emergence Quantum, an Australian research and development company, to advance ion trap technology. This partnership will focus on developing next-generation electronics and materials to enhance ion trap performance.
Moreover, IonQ has appointed Dr. Marco Pistoia as Senior Vice President of Industry Relations. Pistoia, formerly of JPMorgan Chase (NYSE:JPM), brings extensive experience in quantum computing and finance. In another leadership update, Dr. Rick Muller has been named Vice President of Quantum Systems. Muller’s background includes significant roles in quantum research programs for the U.S. intelligence community.
These developments reflect IonQ’s efforts to strengthen its technological capabilities and leadership team.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.