IonQ, Inc. (IONQ) experienced a significant share price jump of 17.3% in the last trading session, closing at $12.30. This increase was supported by robust trading volume, with a substantial number of shares exchanged compared to an average session. Notably, IONQ stock has gained 29.2% over the past four weeks.
This rise follows IonQ’s announcement that it will disclose its financial results for the quarter ending on September 30, 2024, on November 6, 2024, after the market closes.
Analysts expect the company to report an earnings per share (EPS) of -$0.23, which signifies a 4.55% decrease compared to the same quarter last year. Additionally, revenue is forecasted to reach $11.05 million, reflecting a significant 79.97% increase year-over-year. For the complete fiscal year, Zacks Consensus Estimates predict an EPS of -$0.84 and total revenue of $40.44 million, marking a -7.69% dip in earnings but an impressive 83.45% rise in revenue compared to last year.
IonQ is projected to register a quarterly loss of $0.23 per share, which is a -4.6% fall from the prior year. Revenues are anticipated to be around $11.05 million, an 80% increase when compared to the same quarter last year.
Earnings and revenue growth forecasts are useful indicators of a stock’s potential strength. Research indicates that trends in earnings estimate revisions are closely linked to short-term stock price changes. For IonQ, the consensus EPS estimate has remained steady over the past month, which often leads to a stable price movement for the stock.
Investors should keep a close watch on IONQ to determine whether this recent performance can evolve into sustained growth in the future.
Currently, the stock holds a Zacks Rank #3 (Hold). You can check today’s complete list of Zacks Rank #1 (Strong Buy) stocks.
IonQ is part of the Zacks Computer – Integrated Systems industry. Another company in this field, Silicon Motion (SIMO), concluded the last trading session down 1.7% at $56.32. Over the past month, SIMO has posted a return of 1.4%.
For Silicon Motion, the consensus EPS estimate for its upcoming report has decreased by 0.9% to $0.85, which represents a year-over-year increase of 34.9%. Like IonQ, Silicon Motion also holds a Zacks Rank of #3 (Hold).
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IonQ, Inc. (IONQ): Free Stock Analysis Report
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.
