The most recent trading session ended with Ginkgo Bioworks Holdings, Inc. (DNA) standing at $8.09, reflecting a -1.94% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 2.24%. Meanwhile, the Dow experienced a drop of 1.73%, and the technology-dominated Nasdaq saw a decrease of 3.07%.
Coming into today, shares of the company had gained 13.32% in the past month. In that same time, the Medical sector lost 7.47%, while the S&P 500 lost 4.17%.
The investment community will be paying close attention to the earnings performance of Ginkgo Bioworks Holdings, Inc. in its upcoming release. On that day, Ginkgo Bioworks Holdings, Inc. is projected to report earnings of -$1.23 per share, which would represent year-over-year growth of 61.56%. 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 entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.72 per share and a revenue of $171.48 million, representing changes of +64.09% and -24.47%, respectively, from the prior year.
Any recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Currently, Ginkgo Bioworks Holdings, Inc. is carrying a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
