Ginkgo Bioworks Holdings, Inc. (DNA) ended the recent trading session at $10.79, demonstrating a -2.53% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.43%, and the technology-centric Nasdaq increased by 0.09%.
The stock of company has risen by 13.19% in the past month, leading the Medical sector's gain of 0.24% and the S&P 500's gain of 4.37%.
The investment community will be closely monitoring the performance of Ginkgo Bioworks Holdings, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$1.44, signifying a 55.00% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $43 million, down 23.5% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$5.56 per share and revenue of $180 million, indicating changes of +46.33% and -20.72%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ginkgo Bioworks Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Ginkgo Bioworks Holdings, Inc. currently has a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 77, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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