In the latest trading session, Ginkgo Bioworks Holdings, Inc. (DNA) closed at $8.58, marking a -8.43% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 1.13%.
The company's stock has climbed by 24.27% in the past month, exceeding the Medical sector's loss of 3.03% and the S&P 500's gain of 1.26%.
The upcoming earnings release of Ginkgo Bioworks Holdings, Inc. will be of great interest to investors. In that report, analysts expect Ginkgo Bioworks Holdings, Inc. to post earnings of -$0.58 per share. This would mark year-over-year growth of 60%. At the same time, our most recent consensus estimate is projecting a revenue of $20.5 million, reflecting a 47.22% fall from the equivalent quarter last year.
DNA's full-year Zacks Consensus Estimates are calling for earnings of -$3.2 per share and revenue of $82.2 million. These results would represent year-over-year changes of +43.26% and -51.69%, respectively.
Investors might also notice recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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. This group has a Zacks Industry Rank of 172, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).