Yahoo Finance Here's Why IonQ, Inc. (IONQ) Fell More Than Broader Market
IonQ, Inc. (IONQ) closed at $7.03 in the latest trading session, marking a -0.99% move from the prior day. This change lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.71%.
Heading into today, shares of the company had lost 15.48% over the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.53% in that time.
Investors will be eagerly watching for the performance of IonQ, Inc. in its upcoming earnings disclosure. On that day, IonQ, Inc. is projected to report earnings of -$0.22 per share, which would represent a year-over-year decline of 37.5%. At the same time, our most recent consensus estimate is projecting a revenue of $8.4 million, reflecting a 52.17% rise from the equivalent quarter last year.
IONQ's full-year Zacks Consensus Estimates are calling for earnings of -$0.89 per share and revenue of $39.06 million. These results would represent year-over-year changes of -14.1% and +77.19%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for IonQ, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, IonQ, Inc. possesses a Zacks Rank of #2 (Buy).
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 27% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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): Free Stock Analysis Report
