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IonQ (IONQ) Moves 20.2% Higher: Will This Strength Last?
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IonQ, Inc. (IONQ - Free Report) shares ended the last trading session 20.2% higher at $35.76. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.6% loss over the past four weeks.
This company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of -114.3%. Revenues are expected to be $49.66 million, up 556% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For IonQ, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IONQ going forward to see if this recent jump can turn into more strength down the road.
IonQ shares are benefitting from accelerating commercial momentum driven by strategic acquisitions in quantum networking and a rapidly expanding roster of enterprise and defense partnerships that are positioning the company as a full-stack quantum technology provider.
IonQ is a member of the Zacks Computer - Integrated Systems industry. One other stock in the same industry, Hewlett Packard Enterprise (HPE - Free Report) , finished the last trading session 1.4% lower at $24.47. HPE has returned 13.6% over the past month.
For Hewlett Packard Enterprise, the consensus EPS estimate for the upcoming report has changed -0.4% over the past month to $0.54. This represents a change of +42.1% from what the company reported a year ago. Hewlett Packard Enterprise currently has a Zacks Rank of #3 (Hold).
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IonQ (IONQ) Moves 20.2% Higher: Will This Strength Last?
IonQ, Inc. (IONQ - Free Report) shares ended the last trading session 20.2% higher at $35.76. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.6% loss over the past four weeks.
This company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of -114.3%. Revenues are expected to be $49.66 million, up 556% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For IonQ, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IONQ going forward to see if this recent jump can turn into more strength down the road.
IonQ shares are benefitting from accelerating commercial momentum driven by strategic acquisitions in quantum networking and a rapidly expanding roster of enterprise and defense partnerships that are positioning the company as a full-stack quantum technology provider.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
IonQ is a member of the Zacks Computer - Integrated Systems industry. One other stock in the same industry, Hewlett Packard Enterprise (HPE - Free Report) , finished the last trading session 1.4% lower at $24.47. HPE has returned 13.6% over the past month.
For Hewlett Packard Enterprise, the consensus EPS estimate for the upcoming report has changed -0.4% over the past month to $0.54. This represents a change of +42.1% from what the company reported a year ago. Hewlett Packard Enterprise currently has a Zacks Rank of #3 (Hold).