IonQ rises 23.4% after results and raised revenue forecast

Session of November 6, 2026 · Published November 8, 2026 · 4 min read

What happened

IonQ (IONQ) rose 23.4% on November 6, 2026, because of third-quarter results that beat estimates and a raised 2026 revenue forecast. The company reported record sales and revenue that exceeded analysts' estimates, a performance the company and observers attributed in part to increased demand for quantum computing and its acquisition of foundry operator SkyWater, according to The Motley Fool and MarketBeat. The session followed an opening that was 6.0% above the previous close and came on a day when the S&P 500 rose 0.3%.

Closing price over the last 30 trading sessions. On November 6, 2026, IONQ closed at $32.62, up 23.4% on the day and 26.8% lower than 30 sessions earlier.

How big was the move

The stock rose 23.4% on the session, a move equal to 4.3 times a typical daily move for this stock. Trading volume was 1.8 times its 20-day average, reflecting heavier-than-normal interest. Over the last five sessions the stock rose 8.6%, while the Technology sector median rose 1.7% on the day; the stock's performance was 21.7 percentage points better than the sector median. Market value stood at $14.01 billion. The stock's beta of 2.78 indicates the stock tends to move more than the market.

Each bar is one day's price change; the outlined bar is November 6, 2026. A typical daily move over the past year was 5.7%, so the latest move equals 4.1 times that. Moves outside the dashed lines (about 11.5%) are unusual.

In the past five years the stock had 8 sessions with a gain of at least 23.4%. Twenty trading days later the median result was a decline of 1.3%, and 3 of 8 were higher, a pattern suggesting large one-day gains often fade.

The technical picture

The stock was 3.6% above its 20-day moving average but 11.7% below its 50-day moving average and 21.5% below its 200-day moving average. The 50-day average is below the 200-day average, a sign of a weak longer-term trend. The Relative Strength Index (14 days) read 48, in a neutral range between 30 and 70. The shares were 55.7% below the 52-week high and showed a one-month change of fell 17.3% and a three-month change of fell 23.3%. Over one year the stock fell 41.1%, leaving it 49.7 percentage points behind the S&P 500. Volatility was 87% annualized over 60 days, lower than 65% of its own readings over five years.

Closing price over the past year. IONQ ends the period 54.7% below its 52-week high, below its 50-day average ($36.93) and below its 200-day average ($41.54).

Fundamentals and valuation

For the four quarters through September 30, 2026, revenue was $380.4 million, which grew 376.5% from a year earlier and showed growth of 370.6% versus one quarter earlier. Diluted earnings per share were $0.27. Gross margin was 28.5%, down from a year earlier at 30.4%. Operating margin read 337.7%, compared with 586.8% a year earlier. Free-cash-flow margin was 181.0% and return on invested capital was 15.5%. The balance sheet showed net cash of $55.2 million, while share count over one year increased by 36.1%.

Quarterly revenue by period end. The latest quarter brought $174M, 336.0% more than the same quarter a year earlier.

Those figures present a contrast: revenue growth was exceptional, yet some margin and quality measures remain uneven. Gross margin slipped even as revenue surged, and the 50-day moving average sitting below the 200-day average points to strain in the longer-term price trend. Share dilution over the last year and a net cash position of $55.2 million will factor in investors' assessments of future returns.

On valuation metrics the stock traded at 120.8 times trailing earnings with a free-cash-flow yield of 5.3%. PromtFinance scores placed Growth at 98 (Exceptional) and Revisions at 80 (Strong), while Value was 35 (Weak), Quality 2 (Very weak), Momentum 16 (Very weak) and Stability 22 (Very weak). Those scores underline tension between rapid revenue expansion and weak quality and stability measures.

Earnings and analyst expectations

IonQ's last report, on November 5, 2026, showed earnings per share of $-0.29 against $-0.35 expected, 17.0% above estimates. That was one consecutive quarter beating estimates in the recent run, and the average surprise over the last four reports was 100.0% above estimates. The stock's typical two-day reaction after recent reports was rose 0.3%. The next scheduled report is February 24, 2027.

Diluted earnings per share by quarter. The latest quarter shows $1.35, against -$3.58 in the same quarter a year earlier.

Analyst coverage comprised 12 rated analysts with a consensus rating of Buy; 67% of ratings were Buy or Strong Buy. The consensus price target was $64.00, 96.2% above the closing price. That target implies significant upside from current levels but sits alongside a high price-to-earnings multiple and weak Quality and Stability scores.

What to watch

February 24, 2027: next earnings report date
Consensus price target $64.00, 96.2% above the closing price
Share count increased by 36.1% over one year
Net cash on the balance sheet of $55.2 million
Revenue for the four quarters through September 30, 2026: $380.4 million

Full IONQ analysis: scores, chart and financials →