Ginkgo Bioworks Holdings, Inc. (DNA) closed the most recent trading day at $6.59, moving -0.9% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.53%.
Coming into today, shares of the company had lost 27% in the past month. In that same time, the Medical sector lost 3.24%, while the S&P 500 lost 4.03%.
The investment community will be closely monitoring the performance of Ginkgo Bioworks Holdings, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$1.23, marking a 61.56% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $41.26 million, indicating an 8.74% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$3.72 per share and a revenue of $171.48 million, demonstrating changes of +64.09% and -24.47%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ginkgo Bioworks Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, there's been a 37.85% rise in the Zacks Consensus EPS estimate. Ginkgo Bioworks Holdings, Inc. is currently a Zacks Rank #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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