In the latest close session, Ginkgo Bioworks Holdings, Inc. (DNA) was down 6.31% at $13.96. The stock trailed the S&P 500, which registered a daily gain of 0.4%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the company had gained 55.05% over the past month, outpacing the Medical sector's gain of 1.19% and the S&P 500's gain of 4.61%.
Investors will be eagerly watching for the performance of Ginkgo Bioworks Holdings, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$1.44, reflecting a 55% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $43 million, indicating a 23.5% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$5.56 per share and a revenue of $180 million, indicating changes of +46.33% and -20.72%, respectively, from the former year.
Any recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Ginkgo Bioworks Holdings, Inc. is currently sporting 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 95, positioning it in the top 39% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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