Morgan Stanley Lifts IonQ Price Target to $47: Is the Quantum Computing Stock Finally Ready to Deliver? Funtap / Shutterstock.com David Moadel May 4, 2026 4 min read IONQ MS NVDA IBM GOOG Quick Read Morgan Stanley raised its IonQ (IONQ) stock price target to $47 from $37 while maintaining Equal Weight, signaling confidence in the company's quantum computing commercialization path. IonQ's valuation remains stretched at 130x sales despite growing analyst bullish sentiment, creating tension between long-term quantum opportunity and near-term execution risk.
The analyst who called NVIDIA in 2010 just named his top 10 stocks and IonQ wasn't one of them. Morgan Stanley raised its price target on IonQ (NYSE:IONQ) to $47 from $37, while keeping an Equal Weight rating. The call arrived as part of a preview note covering another week of earnings from the semiconductors and quantum group on Monday, May 4.
The price target raised signals growing Wall Street confidence in IonQ's commercial trajectory, even as Morgan Stanley stays neutral on near-term valuation. For prudent investors, the revised IonQ stock outlook lands just two days before the Q1 2026 results. Ticker Company Firm Action Old Rating New Rating Old Target New Target IONQ IonQ Morgan Stanley Price Target Raised Equal Weight Equal Weight $37 $47 The Analyst's Case The Equal Weight stance reflects a balanced read on IonQ stock: bullish on the long-term quantum opportunity, neutral on the current valuation.
The new $47 target sits well below the broader analyst consensus of $64.56, suggesting a more conservative posture even after the upward revision. Morgan Stanley's preview frames quantum computing as a category transitioning from research into early commercial deployments. IonQ sits at the center of that shift, with hyperscaler technology partnerships and government customers that have repeatedly re-rated the shares higher with each design win.
Company Snapshot IonQ is the first public quantum computing company to exceed $100M in annual GAAP revenue. Q4 2025 revenue hit $61.89M, up 429% year over year (YoY), beating consensus of $40.26M. Full-year 2025 revenue reached $130.02M, up 202% YoY.
IonQ CEO Niccolo de Masi guided for FY2026 revenue of $225M to $245M, alongside an adjusted EBITDA loss of ($330M) to ($310M). Strategic milestones for IonQ include a pending SkyWater Technology acquisition, an expanded QuantumBasel contract exceeding $60M over four years, a 99.99% two-qubit gate fidelity record, and selection by DARPA for the Phase B Quantum Benchmarking Initiative. These milestones underscore the company's positioning as a full-stack quantum platform with both commercial and government traction.
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