Gingko Bioworks (NYSE:DNA) stock is up more than 10% today after its latest earnings report.
Ginkgo Bioworks reported that its fourth-quarter 2021 revenue increased 363% year over year to $148 million, which beat the $94 million forecast of Wall Street analysts. However, the company reported a net loss from operations of $1.7 billion.
Still, the company guided that its expects full-year 2022 revenue to be between $325 million and $340 million. This also came in higher than analyst estimates of $306 million. Ginkgo Bioworks is focused on building a platform to enable customers to program cells as easily as computers.
Year to date, DNA stock is down 57%. Here’s where three analysts see the share price headed in coming months.
DNA Stock Price Predictions
- Goldman Sachs has a “neutral” rating on DNA stock and a $7 price target, implying 63% upside.
- Bank of America also maintains a “hold” rating on the stock and has a $6 price target, which would be 40% higher than current levels.
- Raymond James has a “buy” rating on DNA stock and a Street-high price target of $14.50, which would be 240% higher than where the shares currently trade.
What’s Next for Gingko Bioworks
DNA stock is rising today on strong forward guidance and an improving financial picture at the tiny biotechnology firm. Among seven professional analysts who cover the company, the median price target on the shares is $12, implying 180% upside over the next 12 months.
On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.