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IonQ, Inc. (IONQ) Declines More Than Market: Some Information for Investors
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IonQ, Inc. (IONQ - Free Report) closed at $7.80 in the latest trading session, marking a -1.14% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.5%, and the technology-centric Nasdaq decreased by 1.28%.
Heading into today, shares of the company had gained 15.35% over the past month, outpacing the Computer and Technology sector's loss of 4.37% and the S&P 500's gain of 0.1% in that time.
Investors will be eagerly watching for the performance of IonQ, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 7, 2024. The company is expected to report EPS of -$0.22, down 37.5% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $8.4 million, indicating a 52.17% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.89 per share and revenue of $39.06 million, indicating changes of -14.1% and +77.18%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for IonQ, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. IonQ, Inc. is currently a Zacks Rank #3 (Hold).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Declines More Than Market: Some Information for Investors
IonQ, Inc. (IONQ - Free Report) closed at $7.80 in the latest trading session, marking a -1.14% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.5%, and the technology-centric Nasdaq decreased by 1.28%.
Heading into today, shares of the company had gained 15.35% over the past month, outpacing the Computer and Technology sector's loss of 4.37% and the S&P 500's gain of 0.1% in that time.
Investors will be eagerly watching for the performance of IonQ, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 7, 2024. The company is expected to report EPS of -$0.22, down 37.5% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $8.4 million, indicating a 52.17% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.89 per share and revenue of $39.06 million, indicating changes of -14.1% and +77.18%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for IonQ, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. IonQ, Inc. is currently a Zacks Rank #3 (Hold).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.