5 Best Stocks to Buy Now According to Billionaire Nicholas Pritzker’s Tao Capital

4. IonQ, Inc. (NYSE:IONQ)

Tao Capital’s Stake Value: $34,286,000

Percentage of Tao Capital’s 13F Portfolio: 10.47%

Number of Hedge Fund Holders: 19

IonQ, Inc. (NYSE:IONQ) was founded in 2015 and is headquartered in College Park, Maryland. The company develops quantum computing systems that are accessed via cloud platforms. Nicholas Pritzker’s Tao Capital acquired a position in IonQ, Inc. (NYSE:IONQ) in Q4 2021, buying more than 2 million shares worth $34.2 million, accounting for 10.47% of the total portfolio. Overall, 19 funds were bullish on IonQ, Inc. (NYSE:IONQ) in Q4, with collective stakes amounting to $184.2 million. 

On March 28, IonQ, Inc. (NYSE:IONQ) reported a revenue of $1.65 million, and the company projects 2022 revenue to be 5 times 2021’s topline. The contract bookings in 2021 increased 115% to $1.5 million, and the company expects total bookings ranging between $15 million to $22 million for 2022.

Following its Q4 results, Benchmark analyst David Williams on March 29 maintained a Buy recommendation and a $20 price target on IonQ, Inc. (NYSE:IONQ). The analyst noted that bookings trends are accelerating and FY22 bookings guidance exceeded his previous expectations, reflecting consistently increasing usage of IonQ, Inc. (NYSE:IONQ)’s platform. Williams also believes that IonQ, Inc. (NYSE:IONQ) is “tracking ahead of expectations on multiple technology fronts”.