Ginkgo Bioworks Holdings, Inc. (DNA) ended the recent trading session at $8.27, demonstrating a +1.35% swing from the preceding day’s closing price. The stock outpaced the S&P 500’s daily gain of 0.27%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.26%.
Heading into today, shares of the company had gained 0.87% over the past month, outpacing the Medical sector’s loss of 4.14% and lagging the S&P 500’s gain of 2% in that time.
The upcoming earnings release of Ginkgo Bioworks Holdings, Inc. will be of great interest to investors. On that day, Ginkgo Bioworks Holdings, Inc. is projected to report earnings of -$2.80 per share, which would represent year-over-year growth of 22.22%. Our most recent consensus estimate is calling for quarterly revenue of $43.92 million, down 20.77% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$12.60 per share and revenue of $182.13 million. These totals would mark changes of +19.23% and -27.57%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Ginkgo Bioworks Holdings, Inc. boasts a Zacks Rank of #3 (Hold).
The Medical – Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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.
To follow DNA in the coming trading sessions, be sure to utilize Zacks.com.
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