In the latest trading session, IonQ, Inc. (IONQ) closed at $47.25, marking a -4.22% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a drop of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.28%.
The stock of company has fallen by 0.98% in the past month, lagging the Computer and Technology sector's gain of 0.43% and the S&P 500's gain of 0.6%.
Investors will be eagerly watching for the performance of IonQ, Inc. in its upcoming earnings disclosure. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $40.31 million, indicating a 244.21% upward movement from the same quarter last 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.
It is also important to note the recent changes to analyst estimates for IonQ, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, IonQ, Inc. holds 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 57, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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