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IonQ, Inc. (IONQ) Outpaces Stock Market Gains: What You Should Know
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IonQ, Inc. (IONQ - Free Report) ended the recent trading session at $9.64, demonstrating a +1.47% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.65%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.48%.
Shares of the company witnessed a loss of 35.85% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 2.93% and the S&P 500's loss of 2.79%.
Market participants will be closely following the financial results of IonQ, Inc. in its upcoming release. The company plans to announce its earnings on November 8, 2023. The company's earnings per share (EPS) are projected to be -$0.22, reflecting an 83.33% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.01 million, showing an 81.52% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.81 per share and a revenue of $19.14 million, indicating changes of -102.5% and +71.93%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for IonQ, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been no change in the Zacks Consensus EPS estimate. IonQ, Inc. currently has 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 95, finds itself in the top 38% echelons 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.
To follow IONQ in the coming trading sessions, be sure to utilize Zacks.com.
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IonQ, Inc. (IONQ) Outpaces Stock Market Gains: What You Should Know
IonQ, Inc. (IONQ - Free Report) ended the recent trading session at $9.64, demonstrating a +1.47% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.65%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.48%.
Shares of the company witnessed a loss of 35.85% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 2.93% and the S&P 500's loss of 2.79%.
Market participants will be closely following the financial results of IonQ, Inc. in its upcoming release. The company plans to announce its earnings on November 8, 2023. The company's earnings per share (EPS) are projected to be -$0.22, reflecting an 83.33% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.01 million, showing an 81.52% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.81 per share and a revenue of $19.14 million, indicating changes of -102.5% and +71.93%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for IonQ, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been no change in the Zacks Consensus EPS estimate. IonQ, Inc. currently has 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 95, finds itself in the top 38% echelons 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.
To follow IONQ in the coming trading sessions, be sure to utilize Zacks.com.