Ginkgo Bioworks Holdings, Inc. (DNA) closed at $9.06 in the latest trading session, marking a -5.72% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.44%.
The company's shares have seen a decrease of 1.74% over the last month, not keeping up with the Medical sector's gain of 2.01% and the S&P 500's gain of 0.86%.
Analysts and investors alike will be keeping a close eye on the performance of Ginkgo Bioworks Holdings, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$1.8, up 1.1% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $37 million, reflecting a 15.62% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$5.94 per share and revenue of $173 million, indicating changes of +42.66% and 0%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Ginkgo Bioworks Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Ginkgo Bioworks Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 107, this industry ranks in the top 44% of all industries, numbering over 250.
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.
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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