For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is GigaCloud Technology Inc. (GCT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
GigaCloud Technology Inc. is a member of the Business Services sector. This group includes 257 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GigaCloud Technology Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GCT's full-year earnings has moved 7.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GCT has returned about 114.9% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 7.3%. This shows that GigaCloud Technology Inc. is outperforming its peers so far this year.
Healthcare Services (HCSG) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 71.1%.
In Healthcare Services' case, the consensus EPS estimate for the current year increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, GigaCloud Technology Inc. belongs to the Technology Services industry, a group that includes 124 individual companies and currently sits at #95 in the Zacks Industry Rank. This group has gained an average of 21.1% so far this year, so GCT is performing better in this area.
Healthcare Services, however, belongs to the Business - Services industry. Currently, this 26-stock industry is ranked #52. The industry has moved -10.3% so far this year.
Investors interested in the Business Services sector may want to keep a close eye on GigaCloud Technology Inc. and Healthcare Services as they attempt to continue their solid performance.
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GigaCloud Technology Inc. (GCT): Free Stock Analysis Report Healthcare Services Group, Inc. (HCSG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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