Quantum computing stock IonQ Inc (NYSE:IONQ) is down 6.6% before the bell, brushing off better-than-expected full-year revenue outlook and a 755% sales jump in the first quarter. This comes after the company also reported adjusted losses before interest, taxes, depreciation and amortization of $96.8 million -- wider than anticipated. IONQ has added 17% in 2026.
Shares are brushing off price-target hikes from J.P. Morgan Securities and Morgan Stanley to $50 and $48.50 to $42 and $47, respectively. Analysts lean bullish on IONQ, with 10 of the 14 in coverage sporting "buy" or better rating, while the 12-month consensus target price of $67.64 is a 37.1% premium to current levels.
Meanwhile, short interest is up 5.7% in the last two reporting periods, and the 84.03 million shares sold short now account for 23.5% of IONQ's available float. It would take more than three days to buy back these bearish bets, at the equity's current pace of daily trading.
Options traders are also firmly optimistic. The equity's 50-day call/put volume ratio of 1.63 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks in the 96th percentile of readings from the last 12 months.
