GigaCloud Technology Inc. (GCT) closed the most recent trading day at $38.25, moving -9.02% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.41%. Meanwhile, the Dow experienced a drop of 0.83%, and the technology-dominated Nasdaq saw an increase of 0.91%.
Heading into today, shares of the company had gained 5.65% over the past month, outpacing the Business Services sector's loss of 4.89% and the S&P 500's gain of 0.38%.
The upcoming earnings release of GigaCloud Technology Inc. will be of great interest to investors. The company is expected to report EPS of $0.65, down 14.47% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $336 million, indicating a 13.6% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.2 per share and a revenue of $1.26 billion, demonstrating changes of +4.92% and 0%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for GigaCloud Technology Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. GigaCloud Technology Inc. presently features a Zacks Rank of #3 (Hold).
With respect to valuation, GigaCloud Technology Inc. is currently being traded at a Forward P/E ratio of 12.01. This expresses a discount compared to the average Forward P/E of 16.91 of its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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