IonQ, Inc. (IONQ) closed the most recent trading day at $49.78, moving -1.93% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.34% for the day. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, added 0.16%.
The company's shares have seen a decrease of 6.76% over the last month, not keeping up with the Computer and Technology sector's loss of 1% and the S&P 500's gain of 1.19%.
The investment community will be paying close attention to the earnings performance of IonQ, Inc. in its upcoming release. On that day, IonQ, Inc. is projected to report earnings of -$0.48 per share, which would represent year-over-year growth of 48.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $40.31 million, up 244.21% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.08 per share and a revenue of $108.45 million, signifying shifts of -225.64% and 0%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for IonQ, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% decrease. IonQ, Inc. presently features a Zacks Rank of #3 (Hold).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 22, finds itself in the top 9% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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