Ginkgo Bioworks Holdings, Inc. (DNA) closed the most recent trading day at $9.23, moving -9.06% from the previous trading session. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 6.17% over the past month, outpacing the Medical sector's loss of 1.02% and the S&P 500's loss of 0%.
The upcoming earnings release of Ginkgo Bioworks Holdings, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$1.8, reflecting a 1.1% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $37 million, indicating a 15.62% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.94 per share and a revenue of $173 million, signifying shifts of +42.66% and -23.8%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Ginkgo Bioworks Holdings, Inc. boasts 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 86, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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