In the latest close session, Ginkgo Bioworks Holdings, Inc. (DNA) was down 5.92% at $8.27. This move lagged the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq depreciated by 1.51%.
Shares of the company witnessed a loss of 4.14% over the previous month, trailing the performance of the Medical sector with its gain of 3.1%, and the S&P 500's gain of 0.93%.
The upcoming earnings release of Ginkgo Bioworks Holdings, Inc. will be of great interest to investors. 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%. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.94 per share and revenue of $173 million. These totals would mark changes of +42.66% and 0%, respectively, from last 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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has remained steady. Ginkgo Bioworks Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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