Ginkgo Bioworks Holdings, Inc. (DNA) closed at $12.78 in the latest trading session, marking a -2.67% move from the prior day. This change lagged the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.93%.
Heading into today, shares of the company had gained 6.32% over the past month, outpacing the Medical sector's gain of 3.64% and the S&P 500's gain of 1.13%.
Market participants will be closely following the financial results of Ginkgo Bioworks Holdings, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$1.24, marking a 14.81% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $39 million, down 56.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$5.27 per share and a revenue of $181 million, demonstrating changes of +49.13% and -20.28%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Ginkgo Bioworks Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. 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. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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