Ginkgo Bioworks Holdings, Inc. (DNA) closed the most recent trading day at $15.24, moving -5.28% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.52%, and the technology-dominated Nasdaq saw a decrease of 0.08%.
Prior to today's trading, shares of the company had gained 56.37% outpaced the Medical sector's gain of 3.31% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Ginkgo Bioworks Holdings, Inc. will be of great interest to investors. The company's upcoming EPS is projected at -$1.24, signifying a 14.81% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $39 million, down 56.2% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$5.27 per share and a revenue of $181 million, indicating changes of +49.13% and -20.28%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ginkgo Bioworks Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Ginkgo Bioworks Holdings, Inc. is carrying a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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