Ginkgo Bioworks Holdings, Inc. (DNA) closed at $10.02 in the latest trading session, marking a -6.36% move from the prior day. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.28%.
Heading into today, shares of the company had gained 20.09% over the past month, outpacing the Medical sector's loss of 0.01% and the S&P 500's gain of 0.6%.
Analysts and investors alike will be keeping a close eye on the performance of Ginkgo Bioworks Holdings, Inc. in its upcoming earnings disclosure. In that report, analysts expect Ginkgo Bioworks Holdings, Inc. to post earnings of -$1.8 per share. This would mark year-over-year growth of 1.1%. Meanwhile, the latest consensus estimate predicts the revenue to be $37 million, indicating a 15.62% decrease compared to the same quarter of the previous 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 is also important to note the recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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. is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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