Ginkgo Bioworks Holdings, Inc. (DNA) closed at $7.06 in the latest trading session, marking a +1% move from the prior day. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
Shares of the company have appreciated by 7.04% over the course of the past month, outperforming the Medical sector's loss of 0.29%, and the S&P 500's loss of 2.43%.
The investment community will be paying close attention to the earnings performance 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.2 per share and revenue of $82.2 million. These totals would mark changes of +43.26% and -51.69%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ginkgo Bioworks Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Ginkgo Bioworks Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 165, placing it within the bottom 33% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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).