IonQ reported Q1 2026 revenue of $64.7 million, up 755% year-over-year, prompting a price target increase from $37 to $47.
IonQ posted record Q1 2026 revenue of $64.7 million, surging 755% from the prior year, as demand for its quantum computing platform accelerated. Remaining performance obligations rose to $470 million, up 554%, signaling a growing contracted revenue base for future growth.
The company raised its full-year 2026 revenue guidance to a range of $260 million to $270 million, reflecting stronger commercial traction. Management attributed the results to broader platform adoption and durable customer commitments.
Morgan Stanley responded by raising its IonQ price target to $47 from $37 while maintaining an Equal Weight rating, citing improved commercial credibility and growth prospects.