Ginkgo Bioworks Holdings, Inc. (DNA) closed the most recent trading day at $12.50, moving -2.57% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.2%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.04%.
Prior to today's trading, shares of the company had gained 82.5% outpaced the Medical sector's loss of 1.75% and the S&P 500's loss of 0.35%.
Investors will be eagerly watching for the performance of Ginkgo Bioworks Holdings, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.58, showcasing a 60% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $20.5 million, down 47.22% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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, 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 no change in the Zacks Consensus EPS estimate. Ginkgo Bioworks Holdings, Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).