Is IonQ, Inc. (IONQ) The Best Meme Stock To Buy Now?

IonQ, Inc. (NYSE:IONQ) is among the 10 best meme stocks to buy now. On February 8, Cantor Fitzgerald reiterated an Overweight rating on the stock with a price target of $70.

The update largely aligns with the broader consensus on the quantum computing company. Based on 11 analysts’ recommendations, the stock is a Moderate Buy, with a one-year average share price target of $78.33, representing 150.26% upside as of the close on February 12.

The company has made a series of acquisitions in recent months to integrate critical components of the quantum value chain.

On January 28, IonQ, Inc. (NYSE:IONQ) announced that it had reached an agreement to acquire Seed Innovations, a software and technology firm that delivers technical solutions and process improvements for government and commercial clients.

Earlier on January 26, the company said it would acquire chipmaker SkyWater Technology for $35 per share in cash, implying a total value of around $1.8 billion. The agreement is set to further enhance IONQ’s position by bringing semiconductor production in-house.

Despite these developments, the stock remains volatile and has slumped 27% over the past two weeks amid concerns over revenue legitimacy. A recent short-seller report by Wolfpack Research has alleged that the company engaged in misleading practices, raising chatter about its financial strategy.

IonQ, Inc. (NYSE:IONQ) is a quantum platform company that provides solutions for quantum computing, networking, sensing, and security.

While we acknowledge the potential of IONQ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.