In the latest close session, Ginkgo Bioworks Holdings, Inc. (DNA) was down 2.09% at $9.86. This change lagged the S&P 500's 0.28% gain on the day. Elsewhere, the Dow saw an upswing of 1.02%, while the tech-heavy Nasdaq depreciated by 0.02%.
Heading into today, shares of the company had gained 26.19% over the past month, outpacing the Medical sector's gain of 1.01% and the S&P 500's gain of 0.67%.
Market participants will be closely following the financial results of Ginkgo Bioworks Holdings, Inc. in its upcoming release. 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%. Meanwhile, the latest consensus estimate predicts the revenue to be $20.5 million, indicating a 47.22% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.2 per share and a revenue of $82.2 million, signifying shifts of +43.26% and -51.69%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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 industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).