NEW YORK, Dec. 28, 2025, 10:57 a.m. ET — Market Closed
IonQ, Inc. (NYSE: IONQ) stock heads into the final trading days of 2025 with momentum cooling after a sharp holiday-week pullback, even as Wall Street’s newest coverage on the quantum-computing pure play remains broadly constructive. Shares last closed at $46.00, after a 7.67% one-day slide on Friday, Dec. 26, a move that stood out in an otherwise quiet, low-liquidity session across U.S. equities. [1]
With the NYSE closed for the weekend, investors are using Sunday to digest (1) a fresh round of weekend “quantum is the next big tech wave” headlines, (2) the sector’s still-wide gap between bullish long-term roadmaps and today’s thin commercialization, and (3) a packed year-end calendar that can amplify volatility when trading resumes on Monday, Dec. 29. [2]
Where IonQ stock stands right now
IonQ finished Friday at $46.00 after trading in a wide intraday range—roughly $45.76 to $49.68—with volume near 19.4 million shares, according to end-of-day pricing history. [3]
Zooming out, the stock’s recent swings reflect the broader quantum-computing trade: fast-moving sentiment, uneven liquidity around holidays, and heavy attention to “narrative catalysts” like government initiatives, Big Tech breakthroughs, and new analyst coverage. Market data trackers also flagged that IONQ ended the week down mid-single digits overall. [4]
Market backdrop: thin holiday trading, then a New Year’s-week setup
The broader market context matters for IONQ because high-beta, story-driven names often overreact when liquidity is thin.
On Friday, Dec. 26, U.S. stocks finished slightly lower in subdued post-Christmas trading, with volume below average—conditions that can exaggerate moves in volatile growth stocks. [5]
Looking ahead, the coming week is shaped by the New Year’s holiday. U.S. stock markets are scheduled to be closed on Thursday, Jan. 1, 2026, while New Year’s Eve (Wednesday, Dec. 31) is expected to be a full trading day for stocks (bond markets close early). [6]
Investors will also be watching key macro releases and Fed-related headlines that can quickly change risk appetite—especially for speculative technology themes. [7]
The latest IonQ-related news in the last 24–48 hours
While IonQ itself has not posted a brand-new company press release this weekend, the last 24–48 hours brought a wave of market-facing coverage that can still influence sentiment—particularly in retail-heavy themes like “quantum stocks.”
1) Quantum computing gets framed as the “next big tech play”
A widely circulated weekend feature argued that quantum computing is moving from theory toward industrial viability, with IonQ among the notable names frequently mentioned by investors hunting for “early AI-like” opportunities. [8]
2) IonQ highlighted as a “Strong Buy” quantum pick for 2026
A Sunday stock-picks roundup placed IonQ among “Strong Buy” quantum computing ideas and cited a Strong Buy consensus view with sizable implied upside based on aggregated analyst targets (as tracked by the platform). [9]
3) Wedbush coverage keeps circulating in weekend recaps
A weekend recap revisited Wedbush’s recent initiation on IonQ, emphasizing the firm’s view of a scaling revenue profile and a “robust pipeline,” while reiterating Wedbush’s $60 price target from earlier in December. [10]
4) “Should you buy the dip?” debate continues
Opinion and research roundups over the last two days leaned into the key question after IONQ’s pullback from its 2025 highs: whether recent system sales and partnerships meaningfully change the near-term fundamentals, or whether the stock remains primarily a long-duration bet with elevated downside risk. [11]
Analyst forecasts: what Wall Street thinks IonQ is worth
A major driver of IonQ’s late-2025 attention is simply that more sell-side firms started publishing targets—creating a clearer, and sometimes more enthusiastic, “price discovery” process than the stock had in earlier years.
Jefferies: Buy, $100 target (initiated)
Jefferies initiated coverage with a Buy rating and a $100 price target, pointing to IonQ’s trapped-ion approach and an aggressive long-range roadmap toward much larger-scale systems over the next several years. [12]
GuruFocus attributed that initiation to Jefferies analyst Kevin Garrigan and also cataloged other notable targets across the Street. [13]
Wedbush: Outperform, $60 target (initiated)
Wedbush initiated with an Outperform rating and a $60 target, arguing that quantum is still early but IonQ has built a meaningful sales pipeline and is scaling revenue from a small base. [14]
Quiver Quant’s analyst tracker identified the Wedbush call as coming from Antoine Legault. [15]
JPMorgan: Neutral, $47 target (initiated earlier)
Not every firm is all-in bullish. In a sector overview, JPMorgan analyst Peter Peng initiated IonQ at Neutral with a $47 price objective, acknowledging IonQ’s roadmap but cautioning that, at prevailing prices, the risk/reward looked relatively balanced. [16]
Mizuho: Outperform, $90 target (initiated earlier)
GuruFocus also listed Mizuho analyst Vijay Rakesh as initiating coverage with an Outperform and a $90 price target earlier in December. [17]
Consensus targets: mid-$70s average, but with a wide spread
Depending on the tracker and included analyst set, consensus targets cluster in the low-to-mid $70s, with highs reaching $100 and lows far lower—underscoring how uncertain near-term valuation can be for an emerging technology category.
- MarketBeat’s summary showed an average target around $72 with a wide range of targets. [18]
- MarketScreener’s FactSet-linked consensus displayed an average target near $74.89 (with IonQ last close at $46.00 in that snapshot). [19]
- GuruFocus similarly displayed an average target in the low-to-mid $70s with a high of $100 and a low anchored near the high-$40s in its compilation. [20]
Fundamentals vs. narrative: the core bull and bear cases
The bull case investors are buying
IonQ’s pitch—and the reason analysts keep referencing trapped-ion architecture—is that technical differentiation today could translate into commercial advantage as quantum use cases expand from research to production. Jefferies specifically emphasized trapped-ion strengths (coherence, fidelity, connectivity) and a roadmap that extends well beyond near-term revenue. [21]
On the commercial side, IonQ has continued to stack partnerships and “system sale” style headlines that help quantify demand. Recent company announcements include a finalized agreement to deliver a 100-qubit quantum system to South Korea’s KISTI. [22]
IonQ also announced an expansion of its QuantumBasel partnership, including an extended on-site presence and an expanded relationship value described as exceeding $60 million, plus continued deployment plans involving its Forte and Tempo systems. [23]
The bear case skeptics keep returning to
Even bullish analysts acknowledge a central constraint: quantum adoption is still nascent, and IonQ remains unprofitable, which makes the stock especially sensitive to risk-off days and valuation resets. [24]
That dynamic is why some coverage frames IonQ less as a “quarter-to-quarter execution story” and more as a multi-year platform bet—one that can deliver dramatic upside if timelines accelerate, but also sharp drawdowns when expectations get ahead of near-term revenue reality. [25]
One more variable: short interest can amplify moves
Investors tracking positioning should note that IonQ has carried elevated short interest relative to many large-cap tech names. MarketBeat’s short-interest dashboard showed short interest of roughly 70.9 million shares and about 21.5% of float as of a mid-December settlement date. [26]
High short interest doesn’t predict direction by itself, but it can make upside and downside moves more violent—especially around catalysts like earnings, major contract announcements, or sudden shifts in the broader quantum narrative.
What investors should know before the next session (Monday, Dec. 29)
Because the market is closed today, the actionable question becomes: what could change the opening tone on Monday?
1) Watch the “week ahead” macro tape
A New Year’s week preview highlighted upcoming items including pending home sales and other data releases, plus Fed-related context (FOMC minutes coverage and rate expectations) that can swing growth-stock sentiment. [27]
If futures turn risk-off overnight, high-volatility themes like quantum often feel it first.
2) Expect holiday-week liquidity to remain a factor
Year-end trading often comes with lighter institutional participation, which can exaggerate price gaps and intraday swings—particularly in high-beta names. [28]
3) Keep an eye on the “quantum narrative” headlines
This weekend’s broader-market coverage shows the theme is still getting oxygen. That can support the group on quiet days—but it can also cut the other way if a “breakthrough” headline disappoints on closer inspection or if investors rotate away from speculative tech. [29]
4) Know the nearest reference levels traders will cite
From Friday’s tape, investors will likely watch the mid-$40s area that marked the session low and the high-$40s/near-$50 zone that capped rebounds intraday. [30]
5) Remember the calendar: New Year’s Day closure
This is a holiday-shaped week. U.S. stock markets are scheduled to be closed Thursday, Jan. 1, 2026. That can concentrate positioning decisions into fewer sessions and sometimes magnify volatility. [31]
Bottom line
IonQ stock enters Monday’s session as a high-volatility quantum bellwether: analysts’ longer-term targets skew optimistic, but near-term trading is being shaped by holiday liquidity, fast-moving theme headlines, and a still-early commercialization story. Investors heading into the next open will be balancing the Street’s growing coverage—ranging from Jefferies’ $100 bull case to JPMorgan’s more cautious stance—against the reality that quantum remains a multi-year race where sentiment can shift quickly. [32]
References
1. stockanalysis.com, 2. www.marketwatch.com, 3. stockanalysis.com, 4. www.quiverquant.com, 5. apnews.com, 6. www.investopedia.com, 7. www.investopedia.com, 8. www.marketwatch.com, 9. www.tipranks.com, 10. finviz.com, 11. www.fool.com, 12. www.investing.com, 13. www.gurufocus.com, 14. www.investing.com, 15. www.quiverquant.com, 16. www.investors.com, 17. www.gurufocus.com, 18. www.marketbeat.com, 19. www.marketscreener.com, 20. www.gurufocus.com, 21. www.investing.com, 22. investors.ionq.com, 23. www.ionq.com, 24. www.investing.com, 25. www.investors.com, 26. www.marketbeat.com, 27. www.investopedia.com, 28. apnews.com, 29. www.marketwatch.com, 30. stockanalysis.com, 31. www.investopedia.com, 32. www.investing.com
