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QuantumScape Corporation (QS) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2-min read

QuantumScape Corporation (QS) closed at $22.82 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily gain of 0.83%.

Coming into today, shares of the company had gained 8.39% in the past month. In that same time, the Auto-Tires-Trucks sector lost 3.1%, while the S&P 500 lost 3.68%.

Investors will be hoping for strength from QS as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for QS. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QS is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 17% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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