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QuantumScape Corporation (QS) Laps the Stock Market: Here's Why

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QuantumScape Corporation (QS - Free Report) closed the latest trading day at $5.98, indicating a +1.36% change from the previous session's end. This move outpaced the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.

Coming into today, shares of the company had lost 2.16% in the past month. In that same time, the Auto-Tires-Trucks sector lost 7.62%, while the S&P 500 gained 0.48%.

The investment community will be paying close attention to the earnings performance of QuantumScape Corporation in its upcoming release. In that report, analysts expect QuantumScape Corporation to post earnings of -$0.20 per share. This would mark year-over-year growth of 16.67%.

It's also important for investors to be aware of any recent modifications to analyst estimates for QuantumScape Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, QuantumScape Corporation boasts a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 41% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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