Key Stats for IonQ Stock - Current Price: $47.68 - Target Price (Mid): ~$145 - Street Target: ~$65 - Potential Total Return: ~205% - Annualized IRR: ~27% / year - Earnings Reaction: -9.30% (May 7, 2026) Now Live: Discover how much upside your favorite stocks could have using TIKR’s new Valuation Model (It’s free) >>> What Happened? Quantum computing stocks have spent much of 2026 being sold despite strong execution. IonQ (IONQ) reported its largest quarter on record on May 6, beat revenue estimates by 30%, and raised full-year guidance. In the next session, the stock fell 9.30%. Bulls argue the selloff was a “sell the news” overreaction driven by a misleading EBITDA headline. Bears argue a company with free cash flow projected negative through 2029 and no profitability before 2030 was never cheap at $47. The question investors are asking now: did the market overreact, and does the selloff create an opportunity? The answer depends on which number you focus on. The Quarter Behind the Drop On May 6, 2026, IonQ reported $64.7 million in GAAP revenue for Q1 2026, representing 755% year-over-year growth, against a year-ago figure of $7.57 million. The result beat the Wall Street consensus of $49.73 million by 30%. Management raised full-year guidance to $260–$270 million and guided Q2 to $65–$68 million. The selloff came from the adjusted figures. Adjusted EBITDA (a measure of operating profitability excluding non-cash items) came in at a loss of $96.8 million, worse than the ($79.87 million) consensus. Adjusted EPS landed at ($0.34), missing the ($0.25) estimate. The stock fell 9.30% on May 7. What the headline missed: $12 million of the $96.8 million EBITDA loss came directly from IonQ’s commercial agreement with SkyWater Technology, whose acquisition IonQ announced in January 2026 and expects to close in Q2 or Q3