In the latest close session, Ginkgo Bioworks Holdings, Inc. (DNA) was up +1.06% at $16.14. The stock's change was more than the S&P 500's daily gain of 0.01%. On the other hand, the Dow registered a gain of 0.51%, and the technology-centric Nasdaq decreased by 0.28%.
Prior to today's trading, shares of the company had gained 36.73% outpaced the Medical sector's gain of 4.67% and the S&P 500's gain of 4.83%.
Investors will be eagerly watching for 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 -$1.24 per share. This would mark a year-over-year decline of 14.81%. Meanwhile, the latest consensus estimate predicts the revenue to be $39 million, indicating a 56.2% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.27 per share and a revenue of $181 million, signifying shifts of +49.13% and -20.28%, respectively, from the 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, the Zacks Consensus EPS estimate remained stagnant. Ginkgo Bioworks Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
