GigaCloud Technology Inc. (GCT) ended the recent trading session at $18.24, demonstrating a +1.33% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.22%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.51%.
The stock of company has fallen by 3.85% in the past month, leading the Business Services sector's loss of 4.75% and undershooting the S&P 500's gain of 0.45%.
The upcoming earnings release of GigaCloud Technology Inc. will be of great interest to investors. The company is forecasted to report an EPS of $0.46, showcasing a 29.23% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $290.2 million, down 6.65% from the year-ago period.
GCT's full-year Zacks Consensus Estimates are calling for earnings of $2.85 per share and revenue of $1.16 billion. These results would represent year-over-year changes of -6.56% and 0%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for GigaCloud Technology Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, GigaCloud Technology Inc. holds a Zacks Rank of #4 (Sell).
In terms of valuation, GigaCloud Technology Inc. is presently being traded at a Forward P/E ratio of 6.32. This represents a discount compared to its industry average Forward P/E of 20.11.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 40, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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