GigaCloud Technology Inc. (GCT) closed the most recent trading day at $29.84, moving +2.65% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.05%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, added 0.45%.
Coming into today, shares of the company had lost 8.96% in the past month. In that same time, the Business Services sector gained 3.12%, while the S&P 500 gained 3.44%.
Investors will be eagerly watching for the performance of GigaCloud Technology Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.65, marking a 33.67% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $302.5 million, indicating a 0.27% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.97 per share and revenue of $1.2 billion. These totals would mark changes of -2.62% and +3.18%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for GigaCloud Technology Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 6.45% rise in the Zacks Consensus EPS estimate. GigaCloud Technology Inc. presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, GigaCloud Technology Inc. is holding a Forward P/E ratio of 9.79. This valuation marks a discount compared to its industry average Forward P/E of 22.62.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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