12 Best High Volume Stocks to Buy According to Analysts

5. IONQ Inc. (NYSE:IONQ)

Number of Hedge Fund Holders: 28

Average Volume (3-Month): 27.897 million

Upside Potential as of February 19: 44.13%

IONQ Inc. (NYSE:IONQ) is dedicated to building and providing access to general-purpose quantum systems. Through cloud platforms like AWS Braket, Azure Quantum, and Google Cloud, as well as its own cloud service, it offers diverse qubit capacities and provides specialized hardware development, support, and consulting. This drives the advancement of quantum computing applications.

It’s heavily invested in developing quantum applications, particularly in biopharmaceuticals and engineering. It has partnered with AstraZeneca to establish a quantum application development center in Gothenburg, Sweden, which aims to revolutionize drug discovery. The company also joined forces with Ansys to accelerate computer-aided engineering simulations, which makes advanced design exploration more accessible.

IONQ Inc. (NYSE:IONQ) exceeded its Q3 2024 revenue guidance, reporting $12.4 million, compared to the expected $9 million to $12 million. The company raised its full-year 2024 revenue guidance to $38.5-$42.5 million. It also secured a $54.5 million contract with the US Air Force Research Lab and a $9 million renewal with the University of Maryland. On January 27, Needham’s N. Quinn Bolton raised the company’s price target to $54 from $18, maintaining a Buy rating. For this sentiment, he cited the company’s potential to benefit from technical advancements, increased quantum award values, and the growing recognition of quantum computing’s disruptive potential.