Ginkgo Bioworks Holdings, Inc. (DNA) Outperforms Broader Market: What You Need to Know

Ginkgo Bioworks Holdings, Inc. (DNA) ended the recent trading session at $9.60, demonstrating a +1.8% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.32% for the day. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.26%.

Shares of the company have appreciated by 10.29% over the course of the past month, outperforming the Medical sector's loss of 3.4%, and the S&P 500's gain of 4.51%.

Market participants will be closely following the financial results of Ginkgo Bioworks Holdings, Inc. in its upcoming release. On that day, Ginkgo Bioworks Holdings, Inc. is projected to report earnings of -$1.44 per share, which would represent year-over-year growth of 55%. Simultaneously, our latest consensus estimate expects the revenue to be $43 million, showing a 23.5% drop compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.56 per share and a revenue of $180 million, signifying shifts of +46.33% and -20.72%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for Ginkgo Bioworks Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Ginkgo Bioworks Holdings, Inc. holds a Zacks Rank of #2 (Buy).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 34% echelons of all 250+ industries.

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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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).

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