IonQ Just Got a New Street-High Price Target. What Is the Bull Case for Quantum Computing Stocks in 2026?

Core Insights - The shift from classical computing to quantum computing is gaining momentum, with quantum computing utilizing qubits for faster calculations [1][2] - Analysts are increasingly focusing on quantum computing stocks, particularly IonQ, which has a high price target set by Jefferies [3] Company Overview - IonQ, founded in 2015 and based in Maryland, specializes in developing quantum computing technology, including general-purpose trapped ion quantum computers and related software [3] - The company has a market capitalization of $17 billion [3] Stock Performance - IonQ's shares have increased nearly 13% this year, lagging behind the S&P 500's 16% gain and competitors like Rigetti Computing and D-Wave Quantum, which have seen increases of 50% and 201% respectively [4] - Despite the slower growth, IonQ's market cap is comparable to the combined market caps of Rigetti and D-Wave [4] Financial Metrics - IonQ is not yet profitable, making the price-to-sales ratio a key valuation metric, with IonQ's ratio at 150.5, which is more favorable compared to Rigetti's 917 and D-Wave's 304.9 [5] - The market reflects significant optimism for these companies, with IonQ being the least expensive among the three [5] Earnings Report - IonQ's third-quarter earnings report indicated a substantial loss, but a deeper analysis reveals positive aspects, including revenue of $39.9 million, which exceeded guidance by 37% and represented a 222% increase year-over-year [6]