IonQ, Inc. (IONQ) closed at $45.56 in the latest trading session, marking a +1.31% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.61% for the day. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 0.95%.
Coming into today, shares of the company had gained 13.16% in the past month. In that same time, the Computer and Technology sector gained 5.6%, while the S&P 500 gained 3.85%.
Investors will be eagerly watching for the performance of IonQ, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.13, showcasing a 27.78% upward movement from the corresponding quarter of the prior 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.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.6 per share and revenue of $85 million, which would represent changes of +61.54% and +97.34%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for IonQ, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 26.95% fall in the Zacks Consensus EPS estimate. IonQ, Inc. is currently a Zacks Rank #3 (Hold).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 23, positioning it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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