IonQ, Inc. (IONQ) ended the recent trading session at $48.33, demonstrating a -4.6% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.16% for the day. Elsewhere, the Dow gained 1.21%, while the tech-heavy Nasdaq added 1.18%.
Shares of the company witnessed a loss of 1.42% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.07%, and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of IonQ, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.48, indicating a 48.39% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $40.31 million, indicating a 244.21% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$5.08 per share and a revenue of $108.45 million, demonstrating changes of -225.64% and 0%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for IonQ, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, IonQ, Inc. is carrying a Zacks Rank of #3 (Hold).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 52, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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