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Why the Market Dipped But Ginkgo Bioworks Holdings, Inc. (DNA) Gained Today
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Ginkgo Bioworks Holdings, Inc. (DNA - Free Report) closed the most recent trading day at $0.30, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 2.32% loss on the day. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the company had lost 5.9% over the past month. This has lagged the Medical sector's gain of 0.32% and the S&P 500's gain of 1.79% in that time.
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 -$0.08 per share. This would mark year-over-year growth of 11.11%. At the same time, our most recent consensus estimate is projecting a revenue of $45.64 million, reflecting a 43.36% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.30 per share and a revenue of $175.18 million, representing changes of +23.08% and -30.33%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ginkgo Bioworks Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Ginkgo Bioworks Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why the Market Dipped But Ginkgo Bioworks Holdings, Inc. (DNA) Gained Today
Ginkgo Bioworks Holdings, Inc. (DNA - Free Report) closed the most recent trading day at $0.30, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 2.32% loss on the day. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the company had lost 5.9% over the past month. This has lagged the Medical sector's gain of 0.32% and the S&P 500's gain of 1.79% in that time.
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 -$0.08 per share. This would mark year-over-year growth of 11.11%. At the same time, our most recent consensus estimate is projecting a revenue of $45.64 million, reflecting a 43.36% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.30 per share and a revenue of $175.18 million, representing changes of +23.08% and -30.33%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ginkgo Bioworks Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Ginkgo Bioworks Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.