Why IonQ, Inc. (IONQ) Dipped More Than Broader Market Today

In the latest trading session, IonQ, Inc. (IONQ) closed at $41.81, marking a -8.97% move from the previous day. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.22%.

Heading into today, shares of the company had gained 18.65% over the past month, outpacing the Computer and Technology sector's gain of 5.24% and the S&P 500's gain of 4.07%.

The upcoming earnings release of IonQ, Inc. will be of great interest to investors. The company is predicted to post an EPS of -$0.13, indicating a 27.78% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $17.02 million, reflecting a 49.56% rise from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.6 per share and a revenue of $85 million, representing changes of +61.54% and +97.34%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for IonQ, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 26.95% lower. As of now, IonQ, Inc. holds a Zacks Rank of #3 (Hold).

The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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