In the latest close session, GigaCloud Technology Inc. (GCT) was down 1.75% at $41.01. This move lagged the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 1%.
The company's shares have seen an increase of 4.38% over the last month, surpassing the Business Services sector's loss of 1.92% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of GigaCloud Technology Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.65, showcasing a 14.47% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $336 million, indicating a 13.6% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.2 per share and revenue of $1.26 billion, indicating changes of +4.92% and 0%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for GigaCloud Technology Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, there's been no change in the Zacks Consensus EPS estimate. As of now, GigaCloud Technology Inc. holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, GigaCloud Technology Inc. currently has a Forward P/E ratio of 11.93. Its industry sports an average Forward P/E of 17.05, so one might conclude that GigaCloud Technology Inc. is trading at a discount comparatively.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 101, positioning it in the top 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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