In the latest trading session, IonQ, Inc. (IONQ) closed at $45.36, marking a -7.18% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 1.16%.
Prior to today's trading, shares of the company had lost 22.18% lagged the Computer and Technology sector's gain of 0.38% and the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of IonQ, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.29, marking a 58.57% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $66.36 million, indicating a 220.73% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.07 per share and a revenue of $267.45 million, representing changes of +41.21% and +105.71%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for IonQ, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. IonQ, Inc. presently features 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 5, finds itself in the top 3% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 Report
This article originally published on Zacks Investment Research (zacks.com).