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In the latest trading session, IonQ, Inc. (IONQ) closed at $7.70, marking a -0.13% move from the previous day. This change lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.12%.

Shares of the company have depreciated by 11.48% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.27% and the S&P 500's gain of 4.15%.

The investment community will be closely monitoring the performance of IonQ, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.22, reflecting a 37.5% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $8.4 million, showing a 52.17% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.89 per share and revenue of $39.06 million, which would represent changes of -14.1% and +77.19%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for IonQ, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, IonQ, Inc. holds 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 79, placing it within the top 32% 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.