GigaCloud Technology Inc. (GCT) closed at $29.12 in the latest trading session, marking a -1.99% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.48%. Meanwhile, the Dow experienced a rise of 0.27%, and the technology-dominated Nasdaq saw an increase of 0.94%.
The stock of company has fallen by 5.98% in the past month, lagging the Business Services sector's gain of 2.59% and the S&P 500's gain of 2.46%.
The upcoming earnings release of GigaCloud Technology Inc. will be of great interest to investors. 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. Simultaneously, our latest consensus estimate expects the revenue to be $302.5 million, showing a 0.27% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.97 per share and revenue of $1.2 billion, which would represent changes of -2.62% and +3.18%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for GigaCloud Technology Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. GigaCloud Technology Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note GigaCloud Technology Inc.'s current valuation metrics, including its Forward P/E ratio of 10. This represents a discount compared to its industry average Forward P/E of 22.29.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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