As excitement builds around the future of quantum computing, IonQ (IONQ) is stepping into the spotlight. The company stands out as one of the few pure-play quantum stocks available to investors, and it’s making waves with its innovative trapped-ion technology, an approach praised for its potential to scale qubits while minimizing error rates, two of the biggest hurdles in building commercially viable quantum computers.
With quantum breakthroughs seen as the next leap in computing power, IonQ’s unique position in the ecosystem has drawn plenty of attention from growth-focused investors. Analysts are also starting to take bold positions. Rosenblatt’s Kevin Garrigan maintains a Street-high price target of $70 for IonQ, highlighting the stock as a promising way to ride the quantum wave.
His bullish call reflects growing confidence in the company’s long-term roadmap, but with IonQ still far from that target, can the company’s technology and execution catch up with the market’s high hopes by 2025?
IonQ is leading the charge in quantum innovation, drawing on over 20 years of academic research to bring trapped-ion quantum computing into practical use. Unlike other approaches, IonQ’s method leverages ionized atoms, enabling longer and more accurate computations with significantly fewer errors.
The company has quickly become a key player in the quantum race, with its Forte and Forte Enterprise systems already driving major performance gains for partners like Amazon (AMZN), AstraZeneca (AZN), and Nvidia (NVDA). With bold plans to scale up to 2 million qubits by 2030, IonQ aims to tackle complex challenges across various industries, from drug discovery to defense.
Valued at roughly $12.9 billion by market capitalization, IonQ has seen its stock surge an astonishing 509% over the past year, blowing past the broader S&P 500 Index’s ($SPX)15.5% gain in the same timeframe.
Wall Street’s confidence in IonQ is gaining momentum, with analysts growing increasingly bullish on its quantum potential. On July 29, Rosenblatt initiated coverage with a “Buy” rating and a Street-high $70 price target, calling IonQ a prime way to tap into what analysts describe as the “next era of computing.” Led by Kevin Garrigan, the analyst team believes the quantum market won’t be dominated by a single winner, and IonQ is firmly in the race to be one of the frontrunners.
