Analyst Joseph Moore from Morgan Stanley maintained a Hold rating on IonQ and keeping the price target at $32.00.
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Joseph Moore has given his Hold rating due to a combination of factors that reflect both the potential and the challenges facing IonQ. The company has demonstrated a strong leadership position in the quantum computing space, particularly with its advanced qubit technology and scalability prospects. IonQ’s recent acquisition of Oxford Ionics, which boasts industry-leading qubit fidelity, further strengthens its technological roadmap. However, the integration of this acquisition comes with regulatory conditions that may pose some challenges.
Despite IonQ’s confidence in its long-term vision, including ambitious plans for scaling its systems to millions of qubits, the market’s current valuation of the company already reflects much of this optimism. The transition away from the #AQ benchmarking methodology also suggests a shift in how the company’s performance metrics are evaluated. Given these considerations, while IonQ’s prospects are promising, the current stock price may already incorporate these future growth expectations, justifying a Hold rating.
Moore covers the Technology sector, focusing on stocks such as Intel, Marvell, and Micron. According to TipRanks, Moore has an average return of 15.3% and a 61.09% success rate on recommended stocks.
In another report released on September 4, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $41.00 price target.