Overview
- Shares trade near $48, roughly 42% below the October high around $85, after another down week tied to risk-off sentiment and insider selling.
- Jefferies began coverage with a buy rating and a $100 price target, reflecting confidence in the trapped‑ion roadmap despite execution risks.
- IonQ trades at over 100 times its 2025 sales guidance of $106 million to $110 million, and it remains unprofitable.
- Third-quarter revenue reached a record $39.9 million, up 222% year over year, and the company reports about $3.5 billion in pro forma cash with no debt.
- The company cites Tempo milestones including an algorithmic qubit score of 64 and 99.99% two‑qubit fidelity, while sector peers have also fallen as risk appetite waned.