IonQ, Inc. (IONQ) closed the most recent trading day at $40.25, moving -2.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.52%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 0.52%.
The stock of company has fallen by 4.81% in the past month, lagging the Computer and Technology sector's gain of 9.55% and the S&P 500's gain of 5.95%.
Investors will be eagerly watching for the performance of IonQ, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.13, signifying a 27.78% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $17.02 million, reflecting a 49.56% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.47 per share and revenue of $85 million. These totals would mark changes of +69.87% and +97.34%, respectively, from 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, IonQ, Inc. possesses a Zacks Rank of #2 (Buy).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% 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.
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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