Shares of quantum computing solutions provider IonQ, Inc. (NYSE:IONQ) are surging upward today after it upped bookings expectations for 2023 by 25% to $45 million-$55 million.
Impressively, at the midpoint, this promises to be an over 100% jump as compared to last year’s bookings tally of $24.5 million. The boost in guidance comes after the company’s $28 million deal to install two systems in Europe. The first of these quantum systems is expected to be delivered after 2023.
Moreover, the development comes amid a slew of positives. IonQ recently demonstrated the world’s first quantum cognition models in a research paper. This is a major step toward the development of models that can imitate human thought processes. Further, the company’s IonQ Forte quantum system became available to customers across the world. The system can potentially help reach solutions to complex problems in multiple areas.
Overall, the Street has an $8.25 consensus price target on IonQ alongside a Moderate Buy consensus rating. Shares of the company have surged nearly 89% over the past 52 weeks.
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