In the latest trading session, GigaCloud Technology Inc. (GCT) closed at $20.26, marking a -1.12% move from the previous day. This move lagged the S&P 500's daily loss of 0.4%. Meanwhile, the Dow experienced a drop of 0.98%, and the technology-dominated Nasdaq saw an increase of 0.18%.
Shares of the company witnessed a gain of 11.18% over the previous month, beating the performance of the Business Services sector with its gain of 0.01%, and the S&P 500's gain of 4.97%.
The investment community will be paying close attention to the earnings performance of GigaCloud Technology Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.46, marking a 29.23% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $290.2 million, indicating a 6.65% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.79 per share and revenue of $1.16 billion. These totals would mark changes of -8.52% and 0%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for GigaCloud Technology Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 2.11% lower within the past month. As of now, GigaCloud Technology Inc. holds a Zacks Rank of #4 (Sell).
Looking at its valuation, GigaCloud Technology Inc. is holding a Forward P/E ratio of 7.34. This denotes a discount relative to the industry average Forward P/E of 20.66.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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GigaCloud Technology Inc. (GCT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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