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The Zacks Analyst Blog Highlights IonQ, Rigetti Computing and D-Wave Quantum
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For Immediate Release
Chicago, IL – September 26, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: IonQ's (IONQ - Free Report) , Rigetti Computing (RGTI - Free Report) and D-Wave Quantum (QBTS - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Strong Liquidity, Fed Cut Boost IONQ: Buy the Stock or Wait?
Over the past three months, IonQ's shares have surged 93.8%, far outpacing the broader Computer - Integrated Systems industry's 12.3% rise, the Computer and Technology sector's 17.6% gain and the S&P 500's 11.4% rally. This strong rally underscores growing investor confidence in the company's strategic execution. Fueling this momentum is IonQ's solid quantum computing and networking roadmap, supported by a solid liquidity position that gives it the resources to invest in innovation, acquisitions and global growth.
Let's delve deeper.
IonQ's Strengthened Liquidity Underpins Its Roadmap
IonQ exited the second quarter of 2025 with the strongest balance sheet in its history, providing a solid footing for executing its ambitious quantum computing and networking roadmap. As of June 30, the company reported $656.8 million in cash, cash equivalents, and investments. Shortly after the quarter end, IonQ completed a $1 billion equity offering from a single institutional investor, priced at a 25% premium to the prior trading session. This transaction, described as the largest investment by a single institution in the quantum industry, boosted IonQ's pro-forma cash position to $1.6 billion as of July 9, 2025.
The company noted that the capital raise not only strengthens its finances but also signals strong investor confidence in its long-term future. The equity deal included seven-year warrants at $99.88 per share. Management emphasized that this funding makes IonQ the most well-capitalized pure-play quantum provider today, giving it the ability to invest heavily in R&D, ecosystem growth and global expansion.
This strong liquidity directly supports IonQ's roadmap, scaling systems to 800 logical qubits by 2027 and 80,000 by 2030, integrating Oxford Ionics' ion-trap-on-a-chip technology (newly-completed acquisition) and advancing its quantum networking ambitions through acquisitions like Lightsynq and Capella. With resources to back both organic development and acquisitions, IonQ is well-positioned to accelerate progress toward practical quantum advantage while strengthening its leadership in secure quantum networking.
In September 2025, the Federal Reserve enacted a 25-basis-point rate cut, lowering the federal funds target to 4.00%–4.25%, and signaled that two further cuts may follow later this year. This monetary easing will likely reduce borrowing costs and improve liquidity across capital-intensive sectors.
Apart from IONQ, other quantum firms such as Rigetti Computing and D-Wave Quantum stand to benefit as well. Rigetti, with $571.6 million in cash as of the last-reported second quarter, is already investing in scaling its technology, while D-Wave's stock rallied significantly following the rate cut, reflecting renewed investor optimism in its growth trajectory.
Meanwhile, for IONQ, the Zacks Consensus Estimate for 2025 loss per share has widened over the past 30 days from 66 cents to 97 cents, as you can see below. The estimated figure, however, indicates a narrower loss than the year-ago reported loss of $1.56 per share.
Expensive Valuation
IonQ's forward 12-month price/sales (P/S) ratio of 148.67 is far above the industry average.
However, the stock remained undervalued compared to D-Wave's P/S of 271.67X and Rigetti's P/S of 532.39X.
Wait for a Better Entry Point
While IonQ's strong liquidity, roadmap and competitive position highlight its long-term potential, the stock's steep valuation and widening loss estimates suggest near-term caution. With a forward P/S multiple already far above the industry average, the risk of overextension remains. With a Zacks Rank #3 (Hold), the shares may stabilize before offering a better buying opportunity. Investors might consider waiting for a lower price to get a more attractive entry point. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights IonQ, Rigetti Computing and D-Wave Quantum
For Immediate Release
Chicago, IL – September 26, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: IonQ's (IONQ - Free Report) , Rigetti Computing (RGTI - Free Report) and D-Wave Quantum (QBTS - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Strong Liquidity, Fed Cut Boost IONQ: Buy the Stock or Wait?
Over the past three months, IonQ's shares have surged 93.8%, far outpacing the broader Computer - Integrated Systems industry's 12.3% rise, the Computer and Technology sector's 17.6% gain and the S&P 500's 11.4% rally. This strong rally underscores growing investor confidence in the company's strategic execution. Fueling this momentum is IonQ's solid quantum computing and networking roadmap, supported by a solid liquidity position that gives it the resources to invest in innovation, acquisitions and global growth.
Let's delve deeper.
IonQ's Strengthened Liquidity Underpins Its Roadmap
IonQ exited the second quarter of 2025 with the strongest balance sheet in its history, providing a solid footing for executing its ambitious quantum computing and networking roadmap. As of June 30, the company reported $656.8 million in cash, cash equivalents, and investments. Shortly after the quarter end, IonQ completed a $1 billion equity offering from a single institutional investor, priced at a 25% premium to the prior trading session. This transaction, described as the largest investment by a single institution in the quantum industry, boosted IonQ's pro-forma cash position to $1.6 billion as of July 9, 2025.
The company noted that the capital raise not only strengthens its finances but also signals strong investor confidence in its long-term future. The equity deal included seven-year warrants at $99.88 per share. Management emphasized that this funding makes IonQ the most well-capitalized pure-play quantum provider today, giving it the ability to invest heavily in R&D, ecosystem growth and global expansion.
This strong liquidity directly supports IonQ's roadmap, scaling systems to 800 logical qubits by 2027 and 80,000 by 2030, integrating Oxford Ionics' ion-trap-on-a-chip technology (newly-completed acquisition) and advancing its quantum networking ambitions through acquisitions like Lightsynq and Capella. With resources to back both organic development and acquisitions, IonQ is well-positioned to accelerate progress toward practical quantum advantage while strengthening its leadership in secure quantum networking.
Fed's 2025 Rate Cuts Strengthen Liquidity Tailwinds
In September 2025, the Federal Reserve enacted a 25-basis-point rate cut, lowering the federal funds target to 4.00%–4.25%, and signaled that two further cuts may follow later this year. This monetary easing will likely reduce borrowing costs and improve liquidity across capital-intensive sectors.
Apart from IONQ, other quantum firms such as Rigetti Computing and D-Wave Quantum stand to benefit as well. Rigetti, with $571.6 million in cash as of the last-reported second quarter, is already investing in scaling its technology, while D-Wave's stock rallied significantly following the rate cut, reflecting renewed investor optimism in its growth trajectory.
Meanwhile, for IONQ, the Zacks Consensus Estimate for 2025 loss per share has widened over the past 30 days from 66 cents to 97 cents, as you can see below. The estimated figure, however, indicates a narrower loss than the year-ago reported loss of $1.56 per share.
Expensive Valuation
IonQ's forward 12-month price/sales (P/S) ratio of 148.67 is far above the industry average.
However, the stock remained undervalued compared to D-Wave's P/S of 271.67X and Rigetti's P/S of 532.39X.
Wait for a Better Entry Point
While IonQ's strong liquidity, roadmap and competitive position highlight its long-term potential, the stock's steep valuation and widening loss estimates suggest near-term caution. With a forward P/S multiple already far above the industry average, the risk of overextension remains. With a Zacks Rank #3 (Hold), the shares may stabilize before offering a better buying opportunity. Investors might consider waiting for a lower price to get a more attractive entry point. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.