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Here's Why Ginkgo Bioworks Holdings, Inc. (DNA) Fell More Than Broader Market
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In the latest close session, Ginkgo Bioworks Holdings, Inc. (DNA - Free Report) was down 1.96% at $11.53. This move lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 1.88%.
The stock of company has risen by 68.24% in the past month, leading the Medical sector's loss of 0.4% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Ginkgo Bioworks Holdings, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.58, indicating a 60% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $20.5 million, down 47.22% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$3.2 per share and a revenue of $82.2 million, demonstrating changes of +43.26% and -51.69%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Ginkgo Bioworks Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ginkgo Bioworks Holdings, Inc. is currently sporting 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 152, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
View the Zacks #1 Rank List
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Here's Why Ginkgo Bioworks Holdings, Inc. (DNA) Fell More Than Broader Market
In the latest close session, Ginkgo Bioworks Holdings, Inc. (DNA - Free Report) was down 1.96% at $11.53. This move lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 1.88%.
The stock of company has risen by 68.24% in the past month, leading the Medical sector's loss of 0.4% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Ginkgo Bioworks Holdings, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.58, indicating a 60% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $20.5 million, down 47.22% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$3.2 per share and a revenue of $82.2 million, demonstrating changes of +43.26% and -51.69%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Ginkgo Bioworks Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ginkgo Bioworks Holdings, Inc. is currently sporting 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 152, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.