IonQ, Inc. (NYSE:IONQ) has declined more than 20% over the past month, but the Street continues to expect more than 60% upside from the current level.
The bullish sentiment is based on the company’s record backlog and commercial momentum
It is also one of the Best Quantum Computing Stocks to buy and Hold Forever. IonQ, Inc. (NYSE:IONQ) is expected to release its fiscal Q2 2026 earnings on August 5. The Street expects the company to post revenue of roughly $66.5 million.
During Q1 2026, the company posted $64.67 million in revenue, which topped the expectations of $49.79 million. The revenue for the quarter grew by 755% year-over-year. Notably, the remaining performance obligation, which is the company’s backlog, grew by more than 550% to $470 million, with commercial customers accounting for approximately 60% of total revenue.