Analyst Consensus ?
ConsensusBuy13 ratings
Bullish969.2%
Neutral430.8%
Bearish00.0%
IonQ, Inc. · IONQ · FY2026 Q3 · Calendar Q4 2026
IonQ reports record Q3 revenue and raises its 2026 outlook
IonQ’s reported growth and higher outlook strengthen the near-term execution case, supported by demand across computing, security and sensing and greater in-house manufacturing capacity. The investment case remains dependent on scaling delivery and demonstrating sustainable economics as the company integrates acquisitions and continues to spend heavily.
Why did IONQ fall 10.5% after beating EPS estimates in FY2026 Q3?
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Reported After market closeNYSETechnology
$11.35B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-0.29
Consensus $-0.35
EPS surprise
+17.0%
Reported versus consensus
Reported revenue
$173.8M
Consensus $141.5M
Revenue surprise
+22.8%
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
-10.5%
Event window
SPY move
-4.4%
Same window
Abnormal move
-6.1%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
IONQSPY benchmark
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Why did IONQ fall 10.5% after beating EPS estimates in FY2026 Q3?What changed in IONQ's guidance and outlook in FY2026 Q3?Give me the bull and bear case for IONQ after FY2026 Q3 earnings.
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Transcript intelligence
What changed
Management described another record quarter and raised its full-year revenue outlook. The call also highlighted progress in manufacturing integration, quantum-security expansion and commercial partnerships. These advances sharpen the execution opportunity, but did not resolve questions about product economics or the cost of integration.
Guidance delta
Raised full-year 2026 revenue guidance; management’s outlook is more optimistic than the prior quarter’s guidance. The outlook remains dependent on execution and scaling capacity.
Key takeaways
- Another record quarter, with management citing demand across quantum computing, security and sensing.
- Management raised its full-year revenue outlook and emphasized a path toward scale.
- SkyWater integration is intended to strengthen manufacturing capacity; the call also described progress in quantum security and partnerships.
- The growth case is balanced by capacity limits, integration costs and continued cash burn.
Management priorities
- Ramp Superion 256 deliveries and introduce Tempo systems as planned.
- Scale manufacturing through SkyWater and expand foundry services for external customers.
- Develop quantum-security offerings and recurring software revenue.
- Maintain cost discipline while scaling the business.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$30.63Current
$8Low
$58.47Average
$100High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 6, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| B. Riley Securities | Buy | Buy | Maintain | Nov 2, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Oct 15, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 15, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Sep 22, 2026 |
| Needham | Buy | Buy | Maintain | Sep 9, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 9, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Sep 9, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 6, 2026 |
| Northland Capital Markets | Outperform | Outperform | Maintain | Jun 22, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | May 7, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Aug 9, 2024 |
| Craig-Hallum | Buy | Buy | Maintain | Aug 8, 2024 |
| WestPark Capital | Hold | Buy | Downgrade | Jul 13, 2023 |
Named analyst price targets
Upside is calculated against the persisted current price $30.63. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Joseph Moore | $43 | $31.42 | +40.4% | Oct 15, 2026 |
| Wedbush | Matt Bryson | $75 | $36.27 | +144.9% | Oct 13, 2026 |
| Jefferies | Analyst unavailable | $80 | $40.47 | +161.2% | Sep 9, 2026 |
| Mizuho Securities | Vijay Rakesh | $52 | $40.47 | +69.8% | Sep 9, 2026 |
| Morgan Stanley | Analyst unavailable | $49 | $40.1 | +60.0% | Aug 6, 2026 |
| Jefferies | Analyst unavailable | $75 | $39.93 | +144.9% | Aug 6, 2026 |
| Northland Securities | Analyst unavailable | $70 | $58.97 | +128.5% | Jun 22, 2026 |
| Morgan Stanley | Analyst unavailable | $48.5 | $50.04 | +58.3% | May 7, 2026 |
| Jefferies | Analyst unavailable | $85 | $52.57 | +177.5% | May 7, 2026 |
| Northland Securities | Analyst unavailable | $55 | $46.09 | +79.6% | Apr 20, 2026 |
| Morgan Stanley | Joseph Moore | $37 | $40.12 | +20.8% | Feb 26, 2026 |
| Needham | Quinn Bolton | $65 | $33.59 | +112.2% | Feb 26, 2026 |
| Morgan Stanley | Joseph Moore | $35 | $31.17 | +14.3% | Feb 23, 2026 |
| Wedbush | Analyst unavailable | $60 | $49.67 | +95.9% | Dec 17, 2025 |
| Jefferies | Kevin Garrigan | $100 | $46.12 | +226.5% | Dec 16, 2025 |
| Mizuho Securities | Analyst unavailable | $90 | $51.86 | +193.8% | Dec 11, 2025 |
| Cantor Fitzgerald | Troy Jensen | $70 | $52.57 | +128.5% | Nov 7, 2025 |
| D.A. Davidson | Analyst unavailable | $55 | $55.54 | +79.6% | Nov 6, 2025 |
| Morgan Stanley | Joseph Moore | $58 | $55.27 | +89.4% | Nov 4, 2025 |
| Benchmark Co. | Analyst unavailable | $75 | $65.44 | +144.9% | Sep 17, 2025 |
| D.A. Davidson | Alexander Platt | $35 | $40.49 | +14.3% | Aug 7, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $45 | $44.75 | +46.9% | Jul 2, 2025 |
| Morgan Stanley | Analyst unavailable | $29 | $24.57 | -5.3% | Mar 2, 2025 |
| Williams Trading | David Williams | $22 | $15.06 | -28.2% | Nov 7, 2024 |
| Needham | Quinn Bolton | $18 | $15.06 | -41.2% | Nov 7, 2024 |
| Needham | Quinn Bolton | $13 | $7.03 | -57.6% | Aug 8, 2024 |
| Needham | Quinn Bolton | $11 | $10.42 | -64.1% | Jun 26, 2023 |
| Needham | Quinn Bolton | $9 | $6.54 | -70.6% | Mar 31, 2023 |
| Goldman Sachs | Toshiya Hari | $8 | $4.95 | -73.9% | Jul 27, 2022 |
| Williams Trading | David Williams | $15 | $5.71 | -51.0% | May 18, 2022 |
Track every rating change on IONQ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationIonQ, Inc. specializes in the creation of advanced, general-purpose quantum computing systems. The company provides customers with access to its 20-qubit quantum computers. This access is facilitated through prominent third-party cloud platforms, such as Amazon Web Services' (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as directly via IonQ's own proprietary cloud service. Founded in 2015, IonQ, Inc. is headquartered in College Park, Maryland.
Technology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| VRSK Verisk Analytics, Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +6.9% | Verisk Q3: Subscription Growth Offsets Contractor and Weather Headwinds |
| ARW Arrow Electronics, Inc. | FY2026 Q3 · Calendar Q4 2026 | +22.9% | -12.6% | Arrow’s record Q3 reflects broad demand, with inventory and mix risks to watch |
| EPAM EPAM Systems, Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.9% | +20.6% | EPAM Raises AI-Native Revenue Target After Q3 Beat; North America Still Flat |
| IREN IREN Limited | FY2027 Q1 · Calendar Q4 2026 | +14.4% | -17.0% | IREN pairs rapid AI cloud growth with a lower FY2027 CapEx plan |
| MTSI MACOM Technology Solutions Holdings, Inc. | FY2026 Q4 · Calendar Q4 2026 | +4.5% | -18.4% | MACOM enters FY2027 with strong data-center demand and a capacity buildout |
| MCHP Microchip Technology Incorporated | FY2027 Q2 · Calendar Q4 2026 | +3.6% | -13.9% | Microchip’s growth accelerates, but capacity limits temper near-term outlook |
Latest beats and misses
Who reports nextBeat on EPS
- FNFFY2026 Q3 · November 5, 20260.0% EPS+6.6% move
- MTDFY2026 Q3 · November 5, 2026+3.6% EPS+4.8% move
- IAGFY2026 Q3 · November 5, 2026+16.7% EPS+4.6% move
- GMABFY2026 Q3 · November 5, 2026+55.6% EPS-4.3% move
- STEFY2027 Q2 · November 4, 2026+9.7% EPS+2.5% move
- IRMFY2026 Q3 · November 5, 2026+4.6% EPS-11.1% move
Missed on EPS
- WPMFY2026 Q3 · November 5, 2026-1.1% EPS+2.2% move
- CPTFY2026 Q3 · November 5, 2026-27.2% EPS-3.1% move
- VMRKFY2026 Q3 · November 4, 2026-425.6% EPS+2.4% move
- NTRAFY2026 Q3 · November 5, 2026-49.3% EPS-15.2% move
- TIGOFY2026 Q3 · November 5, 2026-40.8% EPS+2.6% move
- UHALFY2027 Q2 · November 4, 2026-15.4% EPS-3.2% move
Get the IONQ recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-11-06T14:12:53.890901+00:00
- FN2 earnings calendar · 2026-11-06T01:23:16.275024+00:00
- Polygon adjusted daily market bars · 2026-11-06T14:20:43.898456+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-06T14:20:43.894939+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-06. For educational purposes only; not investment advice.