Wedbush Securities lowered IonQ's price target to $50 from $75. The firm maintained its "Outperform" rating on the stock.
This adjustment is part of a broader re-rating of the quantum computing sector. Wedbush also reduced targets for competitors Rigetti Computing and D-Wave Quantum.
The firm attributed the revised target to lower growth assumptions for 2027 and 2028. IonQ's equity offering in October also contributed to the adjustment.
This analyst action occurs as the quantum computing sector experienced a downturn from recent highs. IonQ is scheduled to report its third-quarter financial results on the same day.