Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 28 Jan, 26 | IONQ | Buy | USD 45.49 | USD 48.0 | USD 51.0 | 2 days | Closed |
10.97%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
IonQ, Inc. engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. The company also provides consulting services related to co-developing algorithms on quantum computing systems; and contracts associated with the design, development, and construction of specialized quantum computing systems. IonQ, Inc. was founded in 2015 and is headquartered in College Park, Maryland.
Revenue Acceleration and Commercial Traction: IonQ delivered a significant surge in topline performance, with Q3 FY25 revenue rising to USD 39.9 million from USD 12.4 million in Q3 FY24
Diversification of Geographic Revenue Streams: The company achieved meaningful progress in international market penetration, with Q3 FY25 revenue comprising approximately 30% international sales, compared with a predominantly U.S.-centric revenue base in Q3 FY24
Persistent EBITDA Losses Amid Growth Investments: Despite strong topline momentum, IonQ remained loss-making on an operating basis, recording an adjusted EBITDA loss of USD 48.9 million in Q3 FY25
Escalation in Operating Expense Base: While revenue expanded sharply, IonQ’s cost structure grew at an even faster absolute pace, with Q3 FY25 GAAP operating expenses rising to USD 208.7 million, materially higher than levels reported in Q3 FY24
IonQ’s primary investment risk lies in its reliance on sustained capital deployment to commercialize quantum technologies at scale while profitability remains dependent on the pace of enterprise adoption and successful execution of its aggressive technology roadmap
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 45.49 | 40.5 | 48.0 | 51.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Record Revenue Expansion and Commercial Momentum: IonQ delivered a substantial acceleration in topline performance during the third quarter of FY25, reporting revenue of Q3 FY25: USD 39.9 million, a sharp increase from Q3 FY24: USD 12.4 million, reflecting 222% year-over-year growth. This performance represented the largest quarterly revenue beat in the company’s history and materially exceeded management’s guidance, underscoring rising commercial adoption of IonQ’s quantum computing and platform-based solutions.
Transition Into a Full-Stack Quantum Platform Company: During the quarter, IonQ accelerated its evolution from a pure quantum hardware provider into the only integrated quantum platform company globally, spanning quantum computing, networking, sensing, and security. This strategic expansion, supported by recent acquisitions such as Oxford Ionics and Vector Atomic, has broadened IonQ’s addressable market and enabled the pursuit of large, solution-based contracts rather than single-product deployments. The company highlighted over USD 1 billion in active proposals leveraging this integrated platform approach.
Breakthrough Technical Milestones Driving Competitive Leadership: Operationally, IonQ achieved industry-leading technological benchmarks, including a world-record 99.99% two-qubit gate fidelity and an Algorithmic Qubit (AQ) score of 64, translating into computational capacity dramatically exceeding competing quantum systems. These advancements materially enhance IonQ’s ability to deliver commercially viable quantum advantage use cases and support its roadmap toward large-scale fault-tolerant systems.
Expanding Global Footprint and Diversified Customer Base: The company also demonstrated notable geographic diversification, with approximately Q3 FY25 revenue split at 70% U.S. and 30% international, compared with a predominantly domestic business in the prior year. IonQ’s expanding presence across Europe, Asia, and allied government markets reflects growing global demand for quantum-enabled computing, security, and sensing infrastructure.
Aggressive Investment in Innovation and Talent: To sustain technological leadership, IonQ significantly scaled its operating investments. GAAP operating expenses in Q3 FY25 reached USD 208.7 million, including R&D spending of USD 66.3 million, which nearly doubled year over year. The company continues to prioritize engineering, semiconductor-scale manufacturing, and application development to reinforce its competitive moat and accelerate commercial deployment.
Strengthened Balance Sheet and Capital Flexibility: IonQ concluded the quarter with USD 1.5 billion in cash and investments, which expanded to approximately USD 3.5 billion on a pro forma basis following two equity raises in the second half of 2025. With zero debt, IonQ now holds the strongest capital position among pure-play quantum companies, providing substantial runway to fund R&D, acquisitions, and infrastructure scaling.
Improving Revenue Visibility and Upgraded Full-Year Outlook: Building on the Q3 performance, management raised full-year FY25 revenue guidance to USD 106–USD 110 million, implying roughly 150% annual growth and establishing IonQ as the first public quantum company to guide toward triple-digit revenue. This reflects rising recurring revenue streams and deeper customer engagement through platform-based solutions.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given on IonQ, Inc. (NYSE: IONQ) at the closing market price of USD 45.49, as on Jan 27, 2026.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Technology Industry: Computer Hardware
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| IONQ IONQ Inc |
1.86 3.40% | 56.55 | - | - | 138.83 | 5.50 | 126.74 | -21.0799 |
| DELL Dell Technologies Inc |
-9.82 2.34% | 409.50 | 24.44 | 15.65 | 1.22 | 4.39 | 1.34 | 12.81 |
| ANET Arista Networks |
4.74 2.87% | 169.67 | 39.49 | 31.45 | 13.08 | 11.15 | 12.18 | 31.54 |
| SMCI Super Micro Computer Inc |
2.88 10.37% | 30.66 | 49.25 | 28.90 | 5.69 | 17.11 | 5.65 | 57.68 |
| HPQ HP Inc |
0.32 1.38% | 23.50 | 9.33 | 8.67 | 0.56 | - | 0.70 | 7.42 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on January 28, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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