IonQ Is Skyrocketing Today -- Is the Quantum Computing Stock a Buy ?

<p>IonQ (<a href="/quote/nyse/ionq/">IONQ</a> 8.82%) stock is soaring in Thursday's trading following the company's recent quarterly report. The quantum-computing specialist's share price was up 22.7% as of 3:30 p.m. ET despite a bearish backdrop for the broader market. The S&amp;P 500 was down 0.6% at the same point in the day, and the Nasdaq Composite was down 1.4%. </p>
<p>IonQ's <a href="https://www.fool.com/investing/how-to-invest/stocks/gaap-vs-non-gaap/">non-GAAP</a> (adjusted) loss per share of $0.20 on revenue of $61.89 million came in far better than the average Wall Street analyst targets, which had called for a per-share loss of $0.23 on sales of $40.38 million. Sales were up an impressive 429% year over year, and margins came in better than anticipated. </p>
<h2>Is IonQ a buy right now?</h2>
<p>IonQ's Q4 results and forward guidance show that near-term performance has been far better than expected. The company said that it expects sales for this year to be between $225 million and $245 million. For comparison, the average analyst estimate had only targeted sales of roughly $192.6 million for the year.</p>
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<a href="/quote/nyse/ionq/">NYSE: IONQ</a>
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<h3>Key Data Points</h3>
<p>With a market capitalization of approximately $14.6 billion after today's rally, IonQ is valued at roughly 62 times the midpoint of management's sales target for the year. For investors seeking exposure to the <a href="https://www.fool.com/terms/q/quantum-computing/">quantum computing</a> market, the stock looks like a stronger potential portfolio addition on the heels of signs that demand for its technologies and services is ramping at a rapid pace. On the other hand, the company's highly growth-dependent valuation and speculative performance outlook suggest that the stock is probably only a good fit for investors with very high levels of risk tolerance. </p>