Invesco QQQ ETF Performance Analysis: Upside Potential and Analyst Consensus

The Invesco QQQ ETF has risen 2.82% over the past five days and is up 13.8% year-to-date. According to TipRanks' ETF analyst consensus, QQQ is a Moderate Buy, with an average price target of $636.15 and an upside potential of 9.62%. The five holdings with the highest upside potential are Atlassian Corporation, Charter Communications, Strategy, Trade Desk, and Lululemon Athletica, while the five holdings with the greatest downside potential are Palantir Technologies, Tesla Motors, Fastenal, Broadcom, and Electronic Arts. The QQQ ETF's Smart Score is seven, implying it is likely to perform in line with the market.

Planet 13 Holdings, a company focusing on various business segments, is set to release its Q2 earnings on August 13th. Analysts expect the company to report an EPS of -$0.03, which is flat year-over-year (YoY), and a revenue of $28.2 million, down 9.3% from the previous year [1]. Over the past year, Planet 13 Holdings has not beaten EPS estimates and has only beaten revenue estimates 50% of the time.

The upcoming earnings report will provide valuable insights into the company's financial health, particularly its ability to navigate current economic conditions and maintain revenue growth. Analysts will be closely monitoring the company's performance to gauge its resilience.

In a separate development, Consensus Cloud Solutions Inc., a software company, recently reported its Q2 earnings, beating both revenue and adjusted EPS estimates. The company's Q2 revenue rose by 0.3% to $87.7 million, while adjusted EPS increased to $1.46, surpassing analyst expectations [1]. The company reaffirmed its full-year revenue and adjusted EBITDA guidance while raising its adjusted EPS guidance for 2025.

In the broader market, the Invesco QQQ ETF has risen 2.82% over the past five days and is up 13.8% year-to-date. According to TipRanks' ETF analyst consensus, QQQ is a Moderate Buy, with an average price target of $636.15 and an upside potential of 9.62%. The five holdings with the highest upside potential are Atlassian Corporation, Charter Communications, Strategy, Trade Desk, and Lululemon Athletica, while the five holdings with the greatest downside potential are Palantir Technologies, Tesla Motors, Fastenal, Broadcom, and Electronic Arts. The QQQ ETF's Smart Score is seven, indicating it is likely to perform in line with the market.

References:
[1] https://www.ainvest.com/news/planet-13-holdings-q2-earnings-preview-eps-estimate-0-03-revenue-estimate-28-2m-2508/