In the latest close session, GigaCloud Technology Inc. (GCT) was down 1.77% at $20.56. This change lagged the S&P 500's 0.83% gain on the day. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, added 1.02%.
Heading into today, shares of the company had gained 12.59% over the past month, outpacing the Business Services sector's loss of 1.07% and the S&P 500's gain of 4.99%.
The investment community will be paying close attention to the earnings performance of GigaCloud Technology Inc. in its upcoming release. The company is predicted to post an EPS of $0.46, indicating a 29.23% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $290.2 million, showing a 6.65% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.79 per share and a revenue of $1.16 billion, indicating changes of -8.52% and 0%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for GigaCloud Technology Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 2.11% lower. GigaCloud Technology Inc. is currently a Zacks Rank #4 (Sell).
In terms of valuation, GigaCloud Technology Inc. is presently being traded at a Forward P/E ratio of 7.5. This valuation marks a discount compared to its industry average Forward P/E of 20.85.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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