IonQ, Inc. (IONQ) closed at $77.55 in the latest trading session, marking a -5.53% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.16%. On the other hand, the Dow registered a gain of 0.44%, and the technology-centric Nasdaq decreased by 0.76%.
Shares of the company have appreciated by 38.88% over the course of the past month, outperforming the Computer and Technology sector's gain of 3.34%, and the S&P 500's gain of 1.14%.
Market participants will be closely following the financial results of IonQ, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.24, marking stability compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $27.02 million, reflecting a 117.86% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.97 per share and a revenue of $92.67 million, representing changes of +37.82% and +115.14%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for IonQ, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. IonQ, Inc. is currently a Zacks Rank #3 (Hold).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 16, finds itself in the top 7% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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IonQ, Inc. (IONQ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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