Ginkgo Bioworks Holdings, Inc. (DNA) closed at $7.60 in the latest trading session, marking a +0.8% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.67%. On the other hand, the Dow registered a gain of 1.07%, and the technology-centric Nasdaq increased by 2.5%.
Coming into today, shares of the company had gained 5.9% in the past month. In that same time, the Medical sector lost 9.34%, while the S&P 500 lost 6.57%.
The upcoming earnings release of Ginkgo Bioworks Holdings, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of -$1.23, marking a 61.56% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $41.26 million, indicating an 8.74% upward movement from the same quarter last 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.
It is also important to note the recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ginkgo Bioworks Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 32% echelons of all 250+ industries.
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.
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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