We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
IonQ (IONQ) Moves 17.3% Higher: Will This Strength Last?
Read MoreHide Full Article
IonQ, Inc. (IONQ - Free Report) shares soared 17.3% in the last trading session to close at $12.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.2% gain over the past four weeks.
The upswing in share price came after the company announced it will release its financial results for the quarter ended Sep 30, 2024, on Nov 6, 2024, after market close.
It is anticipated that the company will report an EPS of -$0.23, marking a 4.55% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.05 million, indicating a 79.97% increase compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.84 per share and revenue of $40.44 million, which would represent changes of -7.69% and +83.45%, respectively, from the prior year.
This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -4.6%. Revenues are expected to be $11.05 million, up 80% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For IonQ, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IONQ going forward to see if this recent jump can turn into more strength down the road.
IonQ is a member of the Zacks Computer - Integrated Systems industry. One other stock in the same industry, Silicon Motion (SIMO - Free Report) , finished the last trading session 1.7% lower at $56.32. SIMO has returned 1.4% over the past month.
For Silicon Motion, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.85. This represents a change of +34.9% from what the company reported a year ago. Silicon Motion currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
IonQ (IONQ) Moves 17.3% Higher: Will This Strength Last?
IonQ, Inc. (IONQ - Free Report) shares soared 17.3% in the last trading session to close at $12.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.2% gain over the past four weeks.
The upswing in share price came after the company announced it will release its financial results for the quarter ended Sep 30, 2024, on Nov 6, 2024, after market close.
It is anticipated that the company will report an EPS of -$0.23, marking a 4.55% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.05 million, indicating a 79.97% increase compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.84 per share and revenue of $40.44 million, which would represent changes of -7.69% and +83.45%, respectively, from the prior year.
This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -4.6%. Revenues are expected to be $11.05 million, up 80% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For IonQ, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IONQ going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
IonQ is a member of the Zacks Computer - Integrated Systems industry. One other stock in the same industry, Silicon Motion (SIMO - Free Report) , finished the last trading session 1.7% lower at $56.32. SIMO has returned 1.4% over the past month.
For Silicon Motion, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.85. This represents a change of +34.9% from what the company reported a year ago. Silicon Motion currently has a Zacks Rank of #3 (Hold).