Ginkgo Bioworks Holdings, Inc. (DNA) Stock Dips While Market Gains: Key Facts

Ginkgo Bioworks Holdings, Inc. (DNA) closed at $9.00 in the latest trading session, marking a -3.12% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.1%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.14%.

The stock of company has fallen by 2.72% in the past month, lagging the Medical sector's gain of 0.31% and the S&P 500's loss of 1.43%.

Analysts and investors alike will be keeping a close eye on the performance of Ginkgo Bioworks Holdings, Inc. in its upcoming earnings disclosure. In that report, analysts expect Ginkgo Bioworks Holdings, Inc. to post earnings of -$1.8 per share. This would mark year-over-year growth of 1.1%. Meanwhile, the latest consensus estimate predicts the revenue to be $37 million, indicating a 15.62% decrease compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.94 per share and a revenue of $173 million, signifying shifts of +42.66% and -23.8%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ginkgo Bioworks Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Ginkgo Bioworks Holdings, Inc. currently has 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 82, which puts it in the top 34% of all 250+ industries.

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.