GigaCloud Technology Inc. (GCT) closed at $39.78 in the latest trading session, marking a -1.56% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.06%. Meanwhile, the Dow experienced a drop of 1.76%, and the technology-dominated Nasdaq saw a decrease of 2.39%.
The stock of company has fallen by 0.15% in the past month, leading the Business Services sector's loss of 3.38% and undershooting the S&P 500's gain of 1.63%.
Analysts and investors alike will be keeping a close eye on the performance of GigaCloud Technology Inc. in its upcoming earnings disclosure. On that day, GigaCloud Technology Inc. is projected to report earnings of $0.65 per share, which would represent a year-over-year decline of 14.47%. Meanwhile, our latest consensus estimate is calling for revenue of $336 million, up 13.6% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.2 per share and a revenue of $1.26 billion, representing changes of +4.92% and 0%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for GigaCloud Technology Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, GigaCloud Technology Inc. is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, GigaCloud Technology Inc. is at present trading with a Forward P/E ratio of 11.55. This valuation marks a discount compared to its industry average Forward P/E of 16.81.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 31% 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.
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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