IonQ, Inc. (IONQ) shares soared 17.3% within the final buying and selling session to shut at $12.30. The transfer was backed by strong quantity with way more shares altering fingers than in a traditional session. This compares to the inventory’s 29.2% acquire over the previous 4 weeks.
The upswing in share worth got here after the corporate introduced it would launch its monetary outcomes for the quarter ended Sep 30, 2024, on Nov 6, 2024, after market shut.
It’s anticipated that the corporate will report an EPS of -$0.23, marking a 4.55% fall in comparison with the identical quarter of the earlier yr. In the meantime, the most recent consensus estimate predicts the income to be $11.05 million, indicating a 79.97% improve in comparison with the identical quarter of the earlier yr. For the complete yr, the Zacks Consensus Estimates are projecting earnings of -$0.84 per share and income of $40.44 million, which might symbolize adjustments of -7.69% and +83.45%, respectively, from the prior yr.
This firm is anticipated to put up quarterly lack of $0.23 per share in its upcoming report, which represents a year-over-year change of -4.6%. Revenues are anticipated to be $11.05 million, up 80% from the year-ago quarter.
Earnings and income progress expectations definitely give an excellent sense of the potential power in a inventory, however empirical analysis reveals that tendencies in earnings estimate revisions are strongly correlated with near-term inventory worth actions.
For IonQ, the consensus EPS estimate for the quarter has remained unchanged during the last 30 days. And a inventory’s worth often would not hold shifting larger within the absence of any pattern in earnings estimate revisions. So, make sure that to keep watch over IONQ going ahead to see if this latest bounce can flip into extra power down the highway.
The inventory at present carries a Zacks Rank #3 (Maintain). You possibly can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
IonQ is a member of the Zacks Laptop – Built-in Methods trade. One different inventory in the identical trade, Silicon Movement (SIMO), completed the final buying and selling session 1.7% decrease at $56.32. SIMO has returned 1.4% over the previous month.
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IonQ, Inc. (IONQ) : Free Stock Analysis Report
Silicon Motion Technology Corporation (SIMO) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
