Ginkgo Bioworks Holdings, Inc. (DNA) closed the most recent trading day at $9.32, moving +1.41% from the previous trading session. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.31%.
Heading into today, shares of the company had gained 35.35% over the past month, outpacing the Medical sector's gain of 3.46% and the S&P 500's gain of 5.05%.
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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 -$1.29 per share. This would mark year-over-year growth of 59.69%. In the meantime, our current consensus estimate forecasts the revenue to be $42.05 million, indicating a 25.19% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$5.56 per share and revenue of $179.51 million, which would represent changes of +46.33% and -20.94%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Ginkgo Bioworks Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, 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 past month, there's been a 51.5% fall in the Zacks Consensus EPS estimate. As of now, Ginkgo Bioworks Holdings, Inc. holds a Zacks Rank of #3 (Hold).
The Medical – Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 83, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
